Notes from Q3FY24 Conf Call [Link]:
- ARS implementation reached a good level of maturity.
- Channel inventory level is still high compared to expected levels.
- Discounting intensity from competitors has reduced in Q3 compared to H1.
- Demand remains subdued. Not sure how long it will take to normalize. Margins were on the lower level of the aspired range (19~21%) as still selling high cost inventory. Fresh inventory has lower cost raw material.
- Athleisure category volume degrew in Q3. Also, its channel inventory remains high. Competitors (not Page) using discounting push to flush out their inventory.
- eCom grew 28% in 9 months and 32% in Q3.