One of the most popular footwear brands in the country, Bata Shoes (Bangladesh), following Covid-19 fallouts, returned to profit after a year riding on higher sales.
Media reports maintained this while adding that the footwear brand registered a profit of Taka 1.56 crore for the second quarter (April-June) of 2021 — according to the company’s financial report, in this year’s April-June quarter, the footwear brand registered sales of Taka 210 crore while during the corresponding period in 2020 it was Taka 41 crore — while it incurred a loss of Taka 73.51 crore in the same period the previous year (in the April-June quarter of 2020); the company fell into loss subsequent to missing out on the main shopping season ahead of Eid-ul-Fitr, due to the COVID-19 pandemic.
According to the company, around 25 per cent of Bata’s annual business comes during the two Eid festivals even as while underlining the reasons behind the rise in profit in the current year, it stated that its revenue increased by 426 per cent compared to the same period last year due to higher sales (as older merchandise was cleared off by offering bulk discounts to customers).
