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Retailers grow sales but battle with profits in June quarter

Sales might decline in the second quarter due to the advancing of discounts

Retail

Listed retailers have struggled with their bottom line in the first quarter despite rising sales, as discounts were advanced to clear stocks before the goods and services tax (GST) was introduced. Revenues of top retail firms grew an average 23 per cent, year-on-year, in April-June. But except for Future Retail, Avenue Supermarts and Trent, other retail companies posted losses during the quarter. Aditya Birla Fashion & Retail posted revenue growth of 25 per cent during the quarter but a loss of Rs 20 crore. Shoppers Stop posted sales growth of 22 per cent but a loss of Rs 4 ...