Home / Knowledge / News / Apparel/Garments / Same-store sales to witness sharp fall: Shoppers Stop
Same-store sales to witness sharp fall: Shoppers Stop
24
Dec '11
In view of adverse conditions, retail chain Shoppers Stop has warned that the same-store sales are likely to experience a sharp fall and drop from 12 percent to six to seven percent by end of FY 2012, while the retail industry's overall growth is also likely to halve during next fiscal.

Shoppers Stop Managing Director Govind Shrikhande said that considering factors like economic slowdown, deceleration in rupee value and indecisiveness in the manufacturing sector, there could be a slump in like-to-like sales growth. He said that though sales growth for the quarter ended September 2011 was 12 percent, the overall sales growth for the fiscal year is likely to drop to around six to seven percent.

Same-store sales means the difference in earnings of existing outlets of a retail chain for a particular period, compared to their revenues earned during the previous year.

Unveiling the 49th Shoppers Stop outlet, Mr. Shrikhande said the retail sector, which was growing at a rate of 20 percent, is expected to advance at a rate of 10 percent over the next one year.

He said Shoppers Stop intends to increase its total number of outlets to 66 over the next couple of years. The company would invest around four billion rupees over the next three years in increasing its presence by opening new format stores.

Besides speciality format outlets like Home Stop and Mother Care, the company even operates Hypercity hyper market and departmental stores under the Shoppers Stop brand.

Mr. Shrikhande informed that with easing of cotton prices, the firm is expected to slash the prices of private label apparels by five percent.

He said that apparel demand is anticipated to be better in 2012 compared to 2011, as this year the sales volumes were hit by a 15 to 18 percent rise in prices.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Kornit Digital

Textiles | On 28th Feb 2017

'Customisation is an advantage of digital printing'

Changing business models and companies' decision to reduce their...

Textiles | On 28th Feb 2017

China's textile & apparel exports up 10.2% in Jan 2017

Exports of textiles and garments from China resumed growth in the...

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search