“If the momentum of consumer confidence continues, we will achieve and hopefully exceed pre-COVID-19 levels in the next 2-3 months,” Westlife Development Vice-Chairman Amit Jatia advised .
He added that in the approaching quarters, by the in-store enterprise, the corporate will proceed to develop, the comfort channels shall be there, and right here to keep.
“Convenience channels are here to stay… For occasional use for the restaurants, where people used to come for hang-outs and celebrate, this was not being met and that need is coming back. It would not take away (business) from the convenience channels,” he added.
Jatia additionally mentioned the corporate nearly reached pre-COVID-19 numbers in December.
“The business has gone up month after month. In December, we were almost 97 per cent of the pre-COVID-19 sales. Even Ebitda margin for the month of December was 13.1 per cent, which gave us a lot of hope, as we are moving up month on month. I feel it is here to stay,” he mentioned.
Hardcastle Restaurants In-Store enterprise was 85 per cent of the pre-COVID-19 in December, Jatia added.
“I have projected that from the January onwards, things would look good for us. I am seeing consumption coming back and decent sentiment due to the vaccine. I am also seeing in-store business also comes back,” he mentioned.
In December, the corporate’s in-store enterprise was round 80-85 per cent, he added.
On being requested in regards to the enlargement, Jatia mentioned the corporate opened three new shops in the final quarter and has plans to open new shops in this present quarter as nicely.
“We would continue our journey to open 25-30 restaurants from 2021-22,” Jatia added.
Currently, Westlife Development operates 304 McDonald’s shops in 42 cities of the western and southern India.
“Around 60-70 per cent of new shops would come in the six key cities – Mumbai, Pune, Ahmedabad, Bengaluru, Chennai and Hyderabad; and the remainder 30 per cent into smaller cities,” he mentioned.
The firm plans to open shops in 2-3 new cities yearly.