The company's international retail sales were down 3.0 per cent in constant currency and down 6.8 per cent in actual currency, but key markets showed signs of improvement towards the end of the period. While, the international online sales grew at 8.5 per cent in constant currency and 7.4 per cent in actual currency.
"As we signaled in November, there has been a softening in the
In line with its previous announcements and as part of its transformation strategy, the company has decided to reduce its central cost base. The planned financial benefits of this will materialise in the next financial year. The company plans to continue to adopt a disciplined approach to cash management with a particular focus on controlling stock levels, together with stringent controls over capital expenditure.
"Going forward, we are not anticipating any improvement in the short-term market conditions for the
Fibre2Fashion News Desk – India
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