Fri. Sep 25th, 2020

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Footwear sector lost 10-15% revenue

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The footwear sector’s accomplishment in the FY2020 is being abominably affected by the COVID-19 pandemic according to Investment Information and Credit Rating Agency.

With nil revenues during the period of lockdown, given the closure of retail outlets and restriction of delivery of non-essential items in certain areas, the revenues for FY2021 are expected to drop by 10-15% vis-à-vis FY2020, with a larger impact on profitability.

 

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