October 31, 2012

Bata net sales surge by 15% in Q3 2012

Indian leading footwear retailer and manufacturer Bata has reported a 15% rise in net sales to INR4.24bn ($80.27m) for the third quarter ended 30 September 2012, as against INR3.7bn ($70.11m) for the same period in the previous year.

By admin-demo

Indian leading footwear retailer and manufacturer Bata has reported a 15% rise in net sales to INR4.24bn ($80.27m) for the third quarter ended 30 September 2012, as against INR3.7bn ($70.11m) for the same period in the previous year.

The firm’s profit before tax for the third quarter rose 6% to INR477.89m ($9.06m), up from INR450.33m ($8.5m) for the same period in 2011.

Bata India group managing director Rajeev Gopalakrishnan said in the third quarter the firm has reported good result, which was driven by the consistent growth from its retail and non retail businesses.

"We will continue our focus to expand the retail outlets and improve the merchandise with newer & better designs to provide the Indian consumers the best in footwear," Gopalakrishnan added.

The firm in the current quarter has opened 33 new stores, adding to the increasing network of stores.

Bata’s new stores are based on the new large format with a 3000ft² space and are spread across metros, tier 1 and tier 2 cities.

Bata’s key products offered by the company includes slippers, sandals, formal wear shoes, casual wear shoes, infants’ shoes and sport shoes for men, women and children, and accessories such as school bags, socks, hand bags, belts, polishes and brushes

The company also offers repair services, gift cards and various discount offers.

It sells in-house Bata brand, and other international and national brands such as Hush Puppies, North Star, Power, Scholl, Marie Claire and Bubblegummers.

The footwear chain, currently, operates over 1,250 retail stores in over 500 cities across India.