Page 3 - Retail Sector

India Inc's revenue growth weakest since September 2021: CRISIL report

India Inc is likely to log 4-6 per cent revenue growth in the January-March quarter of 2023-24, marking the slowest quarterly growth since recovery from the Covid-19 pandemic which began in September 2021, said a Crisil report. The report is based on an analysis of 350 companies which exclude financial services and oil and gas sectors firms. The moderation follows stronger growth in previous years, the report said, adding "among the 47 sectors monitored by CRISIL, only 12 are expected to have clocked an improvement in revenue growth both sequentially and on-year for the quarter." Consumer discretionary products and services are expected to have led the show in the January-March quarter. Among discretionary products, the automobiles sector was steered by healthy growth in passenger vehicles on the back of higher volumes and price hikes in the past year. The organised retail sector, the report said, grew for the thirteenth quarter in a row, on healthy urban demand. Discretionary .

CY24 trend so far: Two unicorns, but funding to startups down 29%

India 4th-largest recipient of funding

Retail sector to more than double to $2 trillion in next decade: Report

India's retail sector is expected to grow at 9-10 per cent to reach USD 2 trillion in the next decade with the country's consumption story continuing to remain strong with steady growth, according to a report. Yet, organised retailers would need to sustain performance and continue to grow shares as the sector is going through key shifts impacting the pace and shape of growth, said the report by the Boston Consulting Group (BCG) and Retailers Association of India (RAI). While income growth remains steady, and consumers are optimistic about personal income outlook, consumers are increasingly looking to spend on "experiences" or save more through newer or nascent vehicles, it said. "The Indian retail sector will more than double in size to USD 2 trillion in the next decade - across categories and formats - and the successful retailers are the ones who continue to challenge the perceived growth profitability trade-off, " BCG Managing Director and Senior Partner Abheek Singhi said. The

Walmart to acquire Vizio for $2.3 bn, sales outlook, dividend lift shares

The retailer reported a 3.9 per cent rise in comparable sales, excluding fuel, for the quarter ended Jan 31

Retail sector set for 10-13% growth in 2024 on luxury, value purchases

Set to enter a "transformative era", the country's retail sector is expected to clock 10-13 per cent growth in the new year with players adopting technological advances to cater to luxury as well as value customers while inflation shadows continue to lurk in the background. Network expansion, a strong uptick in demand for premium brands, increasing traction for value brands in smaller cities and general elections will be among the key drivers for the retail sector, which is also moving from being just a tale of rural and urban markets. Besides, the continuing e-commerce growth with a surge in quick commerce, hyperlocal delivery services and impulse purchases will provide additional tailwinds. "The Indian retail industry's growth prospects for 2024 present a mixed picture with several factors influencing the landscape," Deloitte India Consulting Partner Rajat Wahi told PTI. The space has bright spots such as robust GDP growth, tech-driven transformation, continued festive season ...

H&M reports 4% drop in Sep-Nov sales, slightly more than expected

H&M has been losing ground to Zara owner Inditex, which on Wednesday reported a 15% rise in local-currency sales for the nine months through October, and a 14% rise for the following six weeks

Fast-fashion retail giant Shein may go public with US IPO filing

The Chinese retail giant, now headquartered in Singapore, is estimated to be valued over $60 billion

Festive season sees record retail trade of Rs 3.75 trillion: CAIT

Retail markets across India registered a record trade of Rs 3.75 lakh crore during this festive season so far, traders' body CAIT said on Monday. The Confederation of All India Traders (CAIT) stated that festivals like Goverdhan Pooja, Bhaiya Dooj, Chhath Pooja and Tulsi Vivah are yet to be solemnised, which may attract additional trade worth Rs 50,000 crore. "Notably, almost only Indian products were sold and purchased this Diwali, which is remarkable," it stated. CAIT Secretary General Praveen Khandelwal said Chinese goods lost a trade of worth more than Rs 1 lakh crore during the Diwali festive season. "In previous years, Chinese products were occupying nearly 70 per cent market of Diwali festivals. However, this year, appeal of Prime Minister Narendra Modi to make this Diwali vocal for local has gone down well and widely accepted and implemented by both traders and consumers," he said.

Irdai excludes retail sector of general insurance from arbitration clause

Following the amendment, the clause will only apply to commercial lines of business

Pakistan: World Bank suggests taxes on agri, real estate to infuse Rs 3 trn

The World Bank has suggested closing all tax exemptions and bringing agriculture, retail, and real estate under a tax bracket that can fetch three per cent of GDP in the cash-strapped Pakistan's kitty, media reports said on Tuesday. The people in two major areas in the provincial jurisdiction real estate and agriculture had most of the untaxed wealth, which should be taxed by the provincial governments to be able to improve services and reduce the financial burden on the centre, which was financing these services, newspaper Dawn quoted WB's Country Director Najy Benhassine and senior economist Tobias Haque as saying. The lender has projected that if agriculture income and properties tax is enforced properly then it could fetch three per cent of GDP in the tax collection on an annual basis, equivalent to slightly over Rs 3 trillion, the Dawn newspaper quoted Haque as saying. He said real estate and agriculture should yield revenue of two per cent and one per cent, respectively, of

India's retail grows due to realty supply, consumer resurgence: JLL report

According to JLL India's report, India continues to be a preferred market for international brands

Hiring activities rise in Apr-Aug period in sectors like retail, telecom

Hiring activities increased 23 per cent in the April-August period compared to the year-ago period in various sectors, including retail and telecom, a report said on Tuesday. In its staffing report, business services provider Quess Corp said that as many as 32,000 jobs were posted in the April-August period, considering that various sectors, including BFSI, retail and telecom, improved their hiring efforts in line with the surge in demand for the festive season in the country. Job roles such as production trainee, branch relationship executive, collection officer, business development executive, broadband sales executive, sales executive, warehouse associate, and customer relationship officer have seen an increase in demand this season. "As India Inc. prepares for the festive season, it is encouraging to see a positive trajectory (23 per cent) of demand for hiring today. Despite inflation and profitability pressures, segments such as manufacturing, BFSI and retail have reflected ..

Amazon Prime Day invite-only deal targets buyer frustration: Report

Shoppers request an invite for discounted items they see on the site - 32% off an Acer Swift X laptop, for example, - and get an email if the deal is still available

Over 3,000 rules for retail sector to follow, 37% bring risk of jail time

These requirements include maintenance of records, returns, and filings under the Payment of Bonus Act, 1965; Minimum Wages Act, 1948, Employees' State Insurance Act, 1948, among others

KKR to invest in consumer retail, healthcare and tech firms, says Co-CEO

PE firm, which is sitting on a $100 billion cash pile, is also keen to participate in PSU bank privatisation

Rupa & Co, Dollar Ind, Kitex Garments hit 52-wk lows on weak Q3 results

However, Kitex Garments said the company's order book in queue for 2023-24 indicates achieving a better performance in Q1 and normal performance by Q2

Budget 2023-24 wishlist: Here are the key challenges in retail sector

Large consumer markets and one of the youngest demographics

Retail, farm segments set to drive credit growth in FY23: CRISIL

Banks' net interest margin should expand in the near term despite credit costs expected to normalise

Wedding season pushed vehicle retail sales up by 26% in November: FADA

All categories were in the green with two-wheelers, three-wheelers, passenger vehicles, tractors & commercial vehicles growing by 24%, 80%, 21%, 57% and 33%, respectively

Michael Kors launches Qualcomm 4100+ chip-powered Camile Gen 6 smartwatch

Michael Kors Camile Gen 6 starts at Rs 22,995. The smartwatch is available for purchase on select online and offline retail stores