India's Metro Brands miss profit, sales estimates on muted wedding demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 09 2024
0mins
Source: Reuters
Metro Brands Reports Earnings: Indian footwear retailer Metro Brands reported a 1.2% decline in net profit to 917.3 million rupees for the June quarter, missing analysts' expectations due to weak demand during the wedding season and store closures.
Industry Trends: The company attributed lower sales to fewer wedding dates, intense heatwaves affecting foot traffic, and noted that competitors like Relaxo Footwears and Bata also experienced declines in their first-quarter profits.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
