Shoppers Stop slipped 6.98% to end at Rs 258.65, extending recent steep losses amid widespread selling pressure.
The stock has fallen 31.36% in the past eight trading sessions from its recent closing high of Rs 376.85 on Wednesday, 4 March 2020. The stock hit 52-week low at Rs 255.45 during intraday trade.
On a consolidated basis, Shoppers Stop reported net loss of Rs 6.51 crore in Q3 December 2019 compared with net profit of Rs 41.66 crore in Q3 December 2018. Net sales fell 0.6% to Rs 1,018.99 crore in Q3 December 2019 over Q3 December 2018.
Shoppers Stop is engaged in the business of retailing a range of household and consumer products through departmental stores. It operates through approximately 80 such departmental stores located in approximately 40 cities. Its products include apparels and non-apparels.
Malls and departmental stores witnessed a drop in footfalls in the past few weeks due to the outbreak of novel coronavirus in India.
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