InvestorQ : How is Avenue Supermarts doing business-wise, because the company has done fairly well in terms of stock market performance?
Crowny Pinto made post

How is Avenue Supermarts doing business-wise, because the company has done fairly well in terms of stock market performance?

Answer
image
Mahima Roy answered.
1 year ago
Follow

There is pressure on Avenue Supermarts but they have apparently taken early decisions on shutdowns and operating at lower capacity. Avenue Supermarts owns and operates retail chain D-mart. It mostly operates in residential suburbs and smaller towns but Avenue Supermarts admitted that 50% of its stores were closed following the lockdown. Even in its existing operations, Avenue is only retailing essential items from the operating stores and average footfall is "significantly lower than usual" due to several restrictions imposed by the authorities. D-Mart is putting all its focus on essentials. It continues to sell daily use essential items such as grocery and FMCG products from all stores but has stopped sale of non-essential items, including apparel. India is presently going through an unprecedented lockdown of three weeks, ending on April 14, to prevent the spread of the virus.

7 Views