Retailers witness steady growth in November
News: As per Retailers association of India (RAI), retail sales in November grew 9% over pre-Covid levels. In October, the sector had witnessed 14% sales growth mainly owing to pre-festive buying. Apparel category witnessed consistent growth of ~6% compared to November 2019.
Views: Revenue trajectory continued to sustain above pre-Covid levels post the fetsive season as well. We believe companies with healthy balance sheet are well placed to accelerate store addition pace in H2FY22.