Shoppers Stop eyes 25% more profits in FY18

The company is expecting sales to grow in the forthcoming festival season

Shoppers Stop is expecting sales to grow in the forthcoming festival season after an initial slowdown in sales in July owing to the goods and services tax (GST).

It expects sales to grow 12-14 per cent, which would take up the company’s profits by 25 per cent for this financial year. 

Managing director Govind Shrikhande said that sales fell in July on account of supply constraints, but recovery started from August. However, since there hasn’t been any changes in the retail prices of garments, sales are likely to remain healthy in the forthcoming festival season, he said.

Shrikhande’s projection is based on three