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Shoppers Stop
Retail chain Shoppers Stop Ltd on Thursday reported a consolidated net loss of Rs 22.72 crore in the June 2024 quarter, hit by subdued consumption due to prolonged heat waves, elections and inflation. The company posted a consolidated net profit of Rs 14.49 crore in the corresponding period last fiscal, Shoppers Stop said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,069.31 crore as against Rs 993.61 crore in the year-ago period, it added. Total expenses were higher at Rs 1,104.51 crore in the first quarter compared to Rs 980.92 crore in the same period last fiscal, the company said. "The industry witnessed subdued consumption due to prolonged heat waves, elections, fewer weddings and inflation... This has impacted our profits, however, we have a strong recovery plan," Shoppers Stop Managing Director and CEO Kavindra Mishra said. Some of the recovery plans include continuous focus on premiumisation, investment in marketing t
Multi-brand fashion retailer Shopper Stop plans to open 60 new stores under its affordable retail format INTUNE in the current fiscal, a top official has said. Through INTUNE, Shoppers Stop aims to capitalise on mass premium opportunities, disrupting India's value fashion landscape, according to the latest annual report of the K Raheja Corp group firm. Shoppers Stop, which competes with similar value formats as Trent's Zudio and Landmark of Max Fashion, is leveraging real-time insights, enabling frequent product drops and assortment refinements to stay ahead, it added. "We are targeting 60 new stores in FY2024-25 backed by strategic investments in merchandising, store operations, and customer analytics capabilities," the company said. Shoppers Stop, which has opened 22 INTUNE stores within nine months of launch, said the Indian value fashion segment is witnessing an "inflection point" fuelled by the aspirations of the rapidly growing middle class. Its Managing Director & Chief ...
Retail chain Shoppers Stop Ltd on Monday reported a 62.55 per cent rise in consolidated net profit at Rs 23.18 crore in the fourth quarter ended March 31, 2024. The company had posted a consolidated net profit of Rs 14.26 crore in the same period a year-ago, Shoppers Stop said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,046.34 crore as against Rs 923.90 crore in the corresponding period of the previous fiscal. Total expenses in the fourth quarter were higher at Rs 1,049.28 crore compared to Rs 928.78 crore in the same period a year ago. For the fiscal ended March 31, 2024, the company said its net profit was at Rs 77.25 crore, down from Rs 116.01 crore in the previous year. Consolidated revenue from operations in FY24 stood at Rs 4,316.59 crore, up from Rs 4,022.13 crore in FY23, the company said. Shoppers Stop Managing Director & CEO Kavindra Mishra said the company "delivered consistent performance despite continued
Retail chain Shoppers Stop on Thursday reported a decline of 41.26 per cent in consolidated net profit at Rs 36.85 crore in the third quarter ended December 2023. The company had posted a net profit of Rs 62.74 crore in the October-December period a year ago, according to a regulatory filing from Shoppers Stop. However, its revenue from operations was up 8.83 per cent to Rs 1,237.52 crore during the quarter under review. It was Rs 1,137.07 crore a year ago. Its total expenses in the December quarter were up 10.62 per cent to Rs 1,189.96 crore. Total revenue at Shoppers Stop, which includes other income, was at Rs 1,240.88 crore, up 6.83 per cent. During the quarter, it added 13 stores which include four department stores, four beauty, four Intune and one airport store. "With considerable slowdown on discretionary spending, we have demonstrated notable resilience in these tough conditions. Our company has delivered admirable financial results with a sales growth of 7 per cent desp
Retail chain Shoppers Stop on Wednesday reported a decline of 83.14 per cent in consolidated net profit at Rs 2.73 crore in the second quarter ended September 30, on muted demand in the apparel business and offset by growth in non-apparel business. The company had posted a net profit of Rs 16.20 crore in the July-September period a year ago, Shoppers Stop said in a regulatory filing. Its revenue from operations during the first quarter of this fiscal was at Rs 1,039.12 crore, up 2.6 per cent against Rs 1,012.74 crore in the year-ago period. The total expenses in the September quarter were at Rs 1,041.31 crore, up 5 per cent. "Shoppers Stop reported impressive financial results, despite challenging market conditions and shifting of Pujo from Q2 to Q3 this fiscal. We have witnessed a strong pick-up in the Beauty businesses and consistent performance from non-apparels," Shoppers Stop Executive Director and CEO Kavindra Mishra said. Its "net profit for the quarter was affected due to