The retail stores of
This was revealed during the company's corporate briefing session on Monday, wherein the management discussed GATM's current performance and outlook.
The retail segment has not yet normalised, as stores are operating under shorter timings (closed on weekends which is usually peak sales time). However, the management commented that for the month of
The GATM management, during the meeting, highlighted that due to Covid-19, consumption patterns of consumers have changed significantly and every segment would be impacted in a different way.
According to Akram, the home textile segment is expected to grow in the future as its demand has increased significantly since people are spending more time at homes in the wake of the pandemic.
'However, the apparel segment is likely to suffer due to its luxury nature, since consumer spending has witnessed an overall decline,' he said.
Akram informed that the GATM's sales from e-commerce are expected to cross
On possible impact of locust on cotton crop yield, the GATM management commented that they currently have sufficient inventory of cotton. However, a significant decline in cotton output can lead to higher cotton imports and higher prices, which can have a negative impact on margins.
© Pakistan Press International, source