Page 3 - Shoppers Stop

Shoppers Stop sells Crossword Bookstores at Rs 41.62 cr valuation

Retail chain Shoppers Stop on Tuesday said it has closed the sale of a controlling stake in its wholly-owned subsidiary Crossword Bookstores at a gross business valuation of Rs 41.62 crore. The stake in Crossword Bookstores is being sold to the owners of Agarwal Business House (ABH), Pune -- Dinesh Gupta, Aakash Gupta and Family, Shoppers Stop said in a regulatory filing. Subject to receipt of necessary consents, Shoppers Stop shall divest 51 per cent stake, that is expected to be completed within 15 days, and another 39 per cent stake will be divested in the next 12 months, it added. "The business of Crossword Bookstores is valued at Rs 41.6 crore. Under the agreement, ABH will take over all the assets and brand. Any liabilities will be adjusted for arriving at the final consideration," Shoppers Stop said. The sale of the Crossword Bookstores is consistent with the company's strategic plans, which is to focus on its core business and expand its strategic pillars viz, First Citizen

Shoppers Stop Q4 net loss narrows to Rs 24 cr; total income declines 3.7%

Department store chain Shoppers Stop narrowed its consolidated net loss to Rs 24 crore in the January to March quarter (Q4 FY21) as compared to a net loss of Rs 127 crore in Q4 FY20.

Aditya Birla Fashion shakes up India's Rs 1.45-trillion ethnic wear market

Aditya Birla Fashion, which has acquired Sabyasachi, Tarun Tahiliani, and Shantanu & Nikhil brands in recent transactions, proposes to take these names to a wider audience

Retailers push the discount pedal on R-Day, offer rebates of up to 60%

Most categories looking to capitalise on out-of-home momentum

Shoppers Stop to raise Rs 300 cr via rights, issue open Nov 27-Dec 11

Existing investors holding 70 shares can apply for 17 new shares at Rs 140 apiece

Stock tips by Nilesh Jain of Anand Rathi: Buy Radico Khaitan, Shoppers Stop

The stock of Radico Khaitan has found the support of its rising trend line and has also formed a reversal candle on the daily chart

Avenue Supermarts, V-Mart, Trent: Strategies for retail sector stocks

The overall trend for most stocks in the retail segment looks promising from a medium-term perspective. Here are the key levels you need to keep a tab on for front-line stocks

Offline retailers keep off Freedom sales amid lockdown, muted sentiment

Croma, Reliance Digital buck trend, but mood remains sombre

Shoppers Stop MD Rajiv Suri puts in papers amid Covid-19 challenges

Company to be managed by CXO committee in interim period

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

Shopper Stop posts net loss of Rs 127 cr in Q4FY20; shares slip 5%

Revenue from operations declined to Rs 724.38 crore during the period under review from Rs 812.65 crore in the same period of 2018-19

Shoppers Stop inks pact with Telangana to set up apparel-making unit

The MoU was signed by ITand industries principal secretary Jayesh Ranjan and Shoppers Stop managing director and CEO Rajiv Suri

Shoppers Stop launches two more store formats after premium rejig

The luxury stores, for instance, will sit at the top and will be located in affluent areas of a city

Shoppers Stop changes strategy, brings focus back to premium segment

It's not the first time Shoppers Stop is changing its strategy

Fashion firms feel slowdown pangs for second straight quarter; sales down

Same-store sales growth down to 2-7% in Q1, lower than 3-9% reported in Q4

Shoppers Stop uses online subsidiary to get back on Amazon marketplace

In December, the Ministry of Commerce and Industry had issued a notification prohibiting e-commerce marketplaces from selling products of firms in which they had a stake

Shoppers Stop bets on beauty retail to revive growth, improve profit

Shoppers Stop also proposes to upgrade its standalone beauty stores, whose number is above 100, increase assortment at these outlets as well as improve service levels

Shoppers Stop to focus on beauty products, non-apparel to boost revenue

The investment in new hiring and infrastructure will probably reflect in spring-summer 2019

Raheja-owned Shoppers Stop posts Rs 97-million profit in Q1

The company's revenues declined by 12 per cent to Rs 8.26 billion in the 2018-19 financial year

Shoppers Stop reports Q1 profit of Rs 97.7 mn, income falls to Rs 8.3 bn

Shares of Shoppers Stop were trading 1.66 per cent higher at Rs 554.50 apiece on BSE