Stockholders Are Rewarded With Coupons for Merchandise Discounts

This voucher entitles the shareholder to a 15% discount on all Metro Brands merchandise (including Metro, Mochi, Walkway, Crocs, and Fitflop) for the voucher’s validity.

On Tuesday, Metro Brands, a shoe retailer, announced plans to issue a “discount coupon” to the shareholders who own a certain percentage of the company. Each stockholder will be entitled to a 15% discount on firm products upon presentation of the vouchers.

As a modest symbol of our gratitude, the company has proposed sending a “Discount Voucher” to every one of our shareholders. Each stockholder will receive a voucher for a 15% (fifteen per cent) discount on all products sold by the company, including those from the Metro, Mochi, Walkway, Crocs, and Fitflop brands. The company filed with the exchange today and explained how shareholders could get voucher information delivered to their registered email address.

Metro, Mochi, Walkway, Da Vinchi, and J Fontini are some of the in-house shoe labels sold by the company. Other brands include Crocs, Skechers, Clarks, Florsheim, and Fitflop. In addition to clothing, Metro Brands also sells accessories like belts, purses, socks, masks, and wallets.

A year after posting a loss of 12 crores in the first quarter of 2022, Metro Brands, a multi-brand footwear retail chain, posted a consolidated net profit of 105.7 crores for the first quarter ended June 2022. Its overall revenue from operations for the period under review increased more than double, to 508 crores, from the low base of the same quarter before the pandemic.

With Q1’s record-breaking revenue, EBITDA, and PAT, we’re off to a great start for the new fiscal year. Metro Brands CEO Nissan Joseph remarked, “We saw the business sustain the momentum we observed as early as Q3 of FY22, and it remained through Q4 and now has resulted in the strongest quarter in our history of Metro Brands.”

The stock price of Metro Brands has risen by almost 74% since it first appeared on the stock market in December of last year. Metro Brands’ IPO, which began on December 10 and ended on December 14, had a final day of subscription that was 3.64 times oversubscribed. An OFS of up to 2,14,50,100 equity shares was part of the share sale, including a new issue of 295 crores.

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