After strong Q3 show, Metro Brands growth outperformance may continue

It is expected to support its rich valuations

The country’s largest listed footwear brand by market capitalisation, Metro Brands, posted better than expected December quarter results for the 2022-23 financial year (FY23), riding on store expansion and strong same store sales (SSS) growth. Profitability too remained robust, even as net profit growth was marginally lower.

The company, which retails across the Metro, Mochi, Walkway, Crocs and Fitflop formats, posted a 24 per cent growth in revenues over Q3FY22. This was on the back of a 14 per cent growth in store additions. The company added 48 new stores, its highest for a quarter, taking the total store count