SSG recovery may be slower than expected
Revenue from closed small stores may not migrate quickly to larger stores, delaying positive SSG.
GOFASHION / bear-case history
Track the concerns that keep returning.
Go Fashion · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
Inventory build-up from daily-wear pilot
Inventory days have increased due to the daily-wear pilot and revenue softness; management expects normalization in FY27.
LFS channel structural challenges
LFS channel faces footfall recovery and secondary sales velocity issues; recovery may be uneven.
Premiumization may alienate core value-conscious customers
ASP increase and shift to higher-priced products could reduce volume and customer base if not managed carefully.