I think it is because of revenue per store fall,
2022 December quarter - 11,569 revenue for 306 stores
2023 March quarter - 10,337 for 324 stores.
Is quality of stores deteriorating?
According to company management, it takes 24 months for a store to reach its potential. It is very early to come to this conclusion.
Second reason: Interest rate increase and high price of the stock.
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