Tata Group retail firm Trent, Retail News, ET Retail

Tata Team retail business Trent Ltd on Friday stated its operations have been adversely impacted because mid-March owing to disruptions caused by the new wave of the COVID-19 pandemic. The company, which operates manner retail outlets less than the brand name name of Westside, stated it has to go for a short term closure of outlets, workplaces and warehouses owing to limitations imposed by states right after a substantial surge in coronavirus conditions in the latest months.

“Our revenues from retailing of non-foods items have been substantially and adversely impacted. Yet, the business has ongoing to incur dedicated expenses especially with respect to our workforce and other expenses not directly connected to revenues,” stated Trent in a regulatory filing.

The company has initiated various methods to mitigate the affect, it added.

About the outlook, the company stated it remains “cautiously optimistic” on the medium-expression outlook.

“The empirical perform out of recovery in Q3/This autumn of FY2020-21, when the pandemic similar limitations eased, with each other with the vaccination programme are encouraging tips for the next 50 percent of this economic yr,” it stated.

Trent additional added it is continuing to target on important initiatives for its makes and the expansion of its reach through outlets and electronic platforms notwithstanding the in the vicinity of expression uncertainties.

Founded in 1998 as section of the Tata Team, Trent Ltd operates Westside, Trent Hypermarket which operates in the competitive foods, grocery and day-to-day requires section less than the brand name name of Star banner, Landmark Shops and Zudio.