India · Delayed Price · Currency is INR Go Fashion (India) Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY 2027 saw positive SSSG for the first time in several quarters, stable revenue and margins, and progress on store format transition and product refresh. Larger stores outperformed, daily wear concept stores showed strong unit economics, and LFS channel recovered. Management remains cautious on trends amid fabric cost inflation and one-off expenses.
Fiscal Year 2026
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FY 2026 saw a strategic pivot to larger stores and value-added products, with stable gross margins but margin pressure from transition costs. Positive SSG and margin recovery are targeted for FY 2027, supported by brand investments and store consolidation.
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Q3 FY26 saw revenue of INR 195 crores and gross margin of 64.3%, but weak footfalls and LFS partner disruptions led to negative SSSG and cautious expansion plans. Focus remains on improving store productivity, maintaining high full-price sales, and disciplined capital allocation.
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Revenue and profitability grew modestly YoY in Q2 FY26, with strong festive demand in key markets and a disciplined approach to store expansion. New product launches and pilots in top-wear and international markets are expected to drive future growth, while gross margins remain steady.
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Revenue remained stable at INR 223 crores in Q1 FY26, with gross margin improving to 63% and EBITDA margin at 30.8%. Store network expanded to 803, but SSSG declined 2% due to softer footfalls and supply chain issues. Expansion into new categories and markets continues.
Fiscal Year 2025
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Q4 FY25 revenue grew 13% YoY with strong EBITDA and PAT growth, while SSSG turned positive at 2.1%. The company is piloting new women's and men's everyday wear categories in select stores, maintaining robust cash flows and planning 120+ store additions in FY26.
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Revenue and EBITDA grew year-over-year despite weak consumer demand and flat SSSG, supported by strong cost control and disciplined discounting. Store expansion and product innovation continue, with a focus on new markets and operational efficiency.
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Revenue grew 13% YoY in H1 FY25 to INR 429 crores, with EBITDA up 12% and margins stable despite a soft demand environment. Store expansion continues with a focus on larger, more productive outlets, and inventory days improved. Management remains optimistic for H2, targeting 15%-20% growth.
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Revenue grew 16% YoY to INR 220 crore in Q1 FY25, with gross margin at 61.8% and PAT up 9% YoY. Inventory days dropped to 87, and 20 net stores were added, targeting 120-150 for FY25. SSG is expected to reach 4%-5% by year-end, with EBITDA margin guidance at 19%-20%.