120-150 new stores annually, 80% franchise
Management targets 120-150 new EVO stores per year, with ~80% being franchise and ~20% company-owned.
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Bata India · forward-looking guidance across the available source record.
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Guidance tracker
What management said would happen.
expansion
Power EBOs to exceed 100 by year-end
Power exclusive brand outlets to expand from 70 to over 100 by December 2024.
Float kiosks to double to ~30 in two quarters
Float kiosks to increase from 16 to about 30 by December 2024.
Marketing spend to remain elevated at 250-300 bps
Marketing investments will continue at 250-300 basis points of sales, supporting brand launches.
ZBM store expansion of ~50 stores per quarter
Management expects to convert about 50 stores per quarter to Zero-Based Merchandising, with potential acceleration to 65-70 if systems stabilize.
Franchise store additions of 30-40 per quarter
Franchise store expansion is expected to continue at 30-40 stores per quarter, with a long-term target of 130-150 net additions annually (80/20 franchise/COCO).
Stock turn improvement to 2.5x in 12 months
Management targets improving trailing 12-month stock turns from 2.1 to 2.5+ over the next 12 months through the Customer First project.
A&P spend to sustain at 3-4% of revenue
Management confirmed continued investment in advertising and promotion at 3-4% of revenue going forward, up from 1.5% in the base period.
Inventory turns target of 2.5x
Management aims to improve inventory turns from current 2.2x to 2.5x, enhancing supply chain agility and working capital.
ZBM to cover 80%+ of store turnover by next year
Zero-based merchandising rollout to accelerate, targeting Pareto coverage (80%+) of store turnover by next fiscal year.
Zero-Based Merchandising rollout to 250-300 top stores by FY26
Management aims to cover top 50% turnover stores (approx. 250-300) with ZBM, targeting improved sales per sq ft and ROIC.
Inventory reduction and availability improvement
Inventory at eight-quarter low; management targets further 10 ppt improvement in availability for top articles.
Store additions to return to 30-40 per quarter
After a quarter of net flattish additions due to closures, gross additions will resume to 30-40 EBOs per quarter.
Franchise store target of 1,000+ in 2 years
Management aims to expand franchise network from ~700 to over 1,000 stores within the next two years, focusing on tier-3 and smaller markets.
Hush Puppies EBO target of 200+ in 12 months
Hush Puppies exclusive brand outlets to increase from 160 to over 200 in the next rolling 12 months.
ZBM rollout to full network by end of FY27
Zero-based merchandising, currently at 400 stores, is expected to be rolled out to the entire store network within the next few quarters.
Contract manufacturing partners to reduce to 15
Management plans to consolidate contract manufacturing partners from 60 to 15 to improve lead times and quality control.
Store additions to be higher than last year
Management expects store additions in FY26 to exceed the ~100 stores added in FY25, with an 80:20 franchise-to-COCO mix.
Zero-based merchandising to cover 300+ stores by June end
Target to expand ZBM to ~300 stores by June 2025, covering ~45-50% of retail turnover.
Floats revenue expected to reach INR 200 crore this year
Floats brand revenue, which crossed INR 100 crore in FY25, is expected to double to INR 200 crore in FY26.
Continued inventory agility improvement
Inventory reduction and quality improvement will continue, with aged inventory targeted to reach best-in-class levels of 2-3%.