Dec 02, 2016 03:22 PM IST | Source: CNBC-TV18

Not optimistic of December sales; November was flat: Monte Carlo

The company was expecting better sales of around 20-25 percent in November on back of 7th pay commission, good monsoons and in turn good winter but they were flat, said Sandeep Jain, Executive Director, Monte Carlo Fashions.

Talking about the impact of demonetisaton on their business Sandeep Jain, Executive Director, Monte Carlo Fashions, said sales for the month of November were flat, adding that he is not upbeat over sales in December too because up to 12th of the month the wedding season is on.

He said the company was expecting better sales of around 20-25 percent in November on back of 7th Pay Commission, good monsoons and in turn good winter.

Although volumes have come down, the percent of people using credit cards in their exclusive outlets has gone up from 56 to 96 percent, said Jain,

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