Shoppers' Stop stares at FY21 loss on lower footfall, higher costs

The FY21 cut was prompted by indications that the June quarter has been a complete wash out and the outlook in the coming quarters will be weak given the economic downturn

The Shoppers Stop stock has shed 1.3 per cent following its weak operational showing in the March quarter. Sentiment in the near term will also be hit, given the sharp downward revision to operating profit estimates for FY21.

Operating profit, which came in at Rs 180 crore in FY20, could drop into negative territory on the back of muted sales and higher fixed costs.

The FY21 cut was prompted by indications that the June quarter has been a complete washout, and the outlook in the coming quarters will be weak because of the economic downturn.

The company said it has reopened 53 departmental