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Covid19 Impact: Mall operators’ operating income to decline 45-60% in FY2021, says ICRA - ET Retail

Covid19 Impact: Mall operators’ operating income to decline 45-60% in FY2021, says ICRA – ET Retail

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MUMBAI: Extended mall closures and rent waivers offered by mall operators are expected to hit their net operating income and debt service coverage indicators in the current financial year. Among the key financial indicators, their operating income is likely to decline 45-60% in 2020-21, said ICRA Research.

The increasing spread of the Covid-19 pandemic in India, starting from mid-March…

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#Coronavirus Lockdown #ICRA Research #Mall Operators #mall owners #malls closed #reduced footfall #rental expenses #retailers

Mall operators hurting, but divided over rental waivers - ET Retail

Mall operators hurting, but divided over rental waivers – ET Retail

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Bengaluru: Builders and global private equity players with a large portfolio of malls in India say it is not financially feasible to waive rentals for long as they have to meet their interest and other liabilities.

Large operators of malls such as Xander-backed Virtuous Retail, Select Group, Phoenix Group and Blackstone-backed Nexus have not waived rentals for their tenants.

But others…

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#Coronavirus Lockdown #lockdown impact #Mall Operators #malls closed #rent waiver #retail outlets #retailers

Coronavirus lockdown: Retail outlets stay shut despite MHA relaxation - ET Retail

Coronavirus lockdown: Retail outlets stay shut despite MHA relaxation – ET Retail

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Kolkata: Large and small retail stores stayed shut in most parts of the country over the weekend despite the ministry of home affairs (MHA) announcing certain exemptions from the Covid-19 lockdown on Friday.

Some states refused to relax the shutdown and retailers said there was lack of clarity on what constituted ‘neighbourhood’ and ‘standalone’ stores, which are allowed to operate…

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#All India Traders #Coronavirus Lockdown #india mobile retailers association #lockdown relaxations #malls closed #mha relaxation #mobile retailers #reopening of stores #retail outlets #retail stores closed

Reopening of stores depends on getting clarity from states: Retailers Association of India - ET Retail

Reopening of stores depends on getting clarity from states: Retailers Association of India – ET Retail

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New Delhi: Reopening of stores in the wake of relaxation in guidelines from Centre, allowing neighbourhood and standalone shops to be open, will depend on members getting clarity from state governments, according to the Retailers Association of India (RAI). The retailers body lamented that a series of circulars from the Centre has only “complicated” the situation and has become “very…

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#Coronavirus Lockdown #Home Ministry #Lockdown relaxation #malls closed #neighbourhood shops reopened #Rai #retail #Retailers Association of India

Lockdown: Retailers seek clarification to open shops; don't expect majority of states will allow - ET Retail

Lockdown: Retailers seek clarification to open shops; don’t expect majority of states will allow – ET Retail

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Kolkata: Large and small brick-and-mortar retailers have sought clarification from states and clear advisories on opening of stores after the Centre issued an advisory allowing all standalone and neighbourhood shops to open.

However, most of the trade bodiesdon’t expect majority of states would eventually allow such opening till the lockdown is over on May 3, considering the surge in…

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#Coronavirus Lockdown #india mobile retailers association #Lockdown relaxation #malls closed #piyush goyal #Rai #retail stores #Retailers Association of India #shops reopened #trade bodies

More clarity needed on reopening of shops: RAI - ET Retail

More clarity needed on reopening of shops: RAI – ET Retail

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NEW DELHI: The Retailers Association of India (RAI) on Saturday said the government’s order to allow reopening of neighbourhood and standalone shops needs more clarity for easier implementation, saying it is open to interpretation as terms like “market complexes” are not easily understood.

The retail industry body said keeping in mind the current environment and lessons learnt by opening…

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#Ajay Bhalla #Coronavirus Lockdown #lockdown relaxations #malls closed #neighbourhood shops #retail stores #Retailers Association of India #social distancing

CAIT welcomes govt's decision to allow neighbourhood stores to open - ET Retail

CAIT welcomes govt’s decision to allow neighbourhood stores to open – ET Retail

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New Delhi: The Confederation of All India Traders (CAIT) has welcomed the order issued by the Union Home Ministry late last night ordering all state governments to allow the opening of shops within the territorial limits of municipal corporation or municipality.

CAIT National President BC Bhartia and National General Secretary Praveen Khandelwal thanked PM Narendra Modi for the order and…

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#Ajay Bhalla #cait #Coronavirus Lockdown #Lockdown relaxation #malls closed #Neighbourhood stores #piyush goyal #retail stores #retailers

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