Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, has said that “significant disruptions” of its store operations from March 2021 onwards is leading to “adverse and severe impact” on its revenues, according to a PTI report
As per the report, more than 80 per cent of D-Mart stores are operating for a significantly lower number of hours (not exceeding four hours per day) or are even shut for operations for one-two weeks or shut on weekends.
“These shutdowns are having an adverse and severe impact on its (D-Mart’s) revenues,” PTI quoted the company as saying.
“We currently continue to receive a regular supply of goods from our suppliers. However, this time, we may have a problem of excess inventory — an issue larger than the first wave,” it said.
“This could have a longer-term impact on our inventory to sales ratio as we could take comparatively longer time to liquidate the excess inventory,” it added.