Titan continues to see the impact of COVID on its performance. In the update, the company said it suffered a complete loss of sales in April due to lockdown. The Jewellery segment which accounts for around 80% of the total revenue saw a decline of ~80% in May and 30% in June on a year on year(YoY) basis. The recovery on a month on month basis is better than what the company envisaged for the segment especially with the wedding season being deferred. The company has managed to re-open 95% of its Tanishq stores till the date and are seeing a good recovery in sales in non-metro cities. Watches segment revenue declined by 95 % in May & 80% in June YoY. The sales recovery rate was highest for e-comm and retail channels, while it was the lowest for large format stores. Eyewear segment saw a decline of 85% in May and 65% in June YoY. The eyewear division had to shut 15 stores during the quarter.
Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3\n\nSubscribe Now To Our Network Channels :-\nTimes Now : http://goo.gl/U9ibPb\nThe NewsHour Debate : http://goo.gl/LfNgFF\n\nTo Stay Updated Download the Times Now App :-\nAndroid Google Play : https://goo.gl/zJhWjC\nApple App Store : https://goo.gl/d7QBQZ\n\nSocial Media Links :-\nTwitter - http://goo.gl/hA0vDt\nFacebook - http://goo.gl/5Lr4mC\nG+ - http://goo.gl/hYxrmj\nWebsite - www.etnownews.com
4