- Shubhangi Bidwe |
For the fourth quarter V-Mart’s revenue was up 16 per cent. Same store sales growth was 3.5 per cent. For the full year revenue was up 17 per cent. Same store sales growth was 3.7 per cent.
V-Mart Retail is a value fashion retailer. With almost one-third of store openings happening in the fourth quarter, substantial retail network expansion costs were incurred upfront, but the commensurate revenue impact of these stores was not realized during the fiscal year. Marking a new milestone, the company opened 44 stores, its highest-ever tally in a single year. V-Mart added three new states, Assam (six stores), Meghalaya (one store) and Himachal Pradesh (two stores), taking its retail network presence to 17 states from 14 at the close of the year. During the year, the company embarked on several strategic initiatives. The merchandise planning and buying processes were revamped to provide more freshness and be more responsive to customers’ evolving fashion preferences. The success of this continued initiative was reflected in the high sell-through rates of several assortments, particularly festive season and winter merchandise. The emphasis on making the warehousing and supply chain backbone more robust to reduce inventory costs and support expansion into new regions also started paying immediate dividends, with inventory days reducing by six per cent.