Shoppers Stop Ltd (SSL), India’s prominent retail group (operator of large format department stores, home stores, specialty stores like Crossword, Mothercare, M.A.C, and hypermarkets) reported a gross retail turnover of Rs.820.6 crores for the quarter ended September 30th, 2013 as against Rs. 666.4 crores in Q2FY13; up 23%. Net Profit stood at Rs. Rs. 9.9 crores for the quarter ended September 30th, 2013.
With 61 stores across 30 cities in India, Shoppers Stop continues to grow and expand its retail footprint. This quarter, SSL added two new Shoppers Stop stores at Agra and Vadodara, two Clinique doors at Mumbai and Amritsar, two M.A.C doors at Bengaluru and Amritsar and one HyperCity store at Vadodara.
Driving ahead its successful Loyalty programme, SSL continued to expand its membership base adding more than 91,000 new members to the First Citizen Loyalty Programme in Q2 FY14. The programme now has a total First Citizen base of over 30.87 lacs members.
Highlights of Q2FY14
- Gross Retail Turnover touches Rs.820.6 crores; a jump of 23%
- Double-digit like-to-like growth at 15.5%
- EBIDTA at Rs.39.8 crores a growth of 37%
- Net profit stood at Rs.9.9 crores, up 55%
- More than 91,000 members added to First Citizen Loyalty Programme
Key Highlights of performance:
-Sales up by 16%
-Like to like sales growth 8.9%
-Margin growth 90 basis points
Speaking on the financial performance, Mr. Govind Shrikhande – Customer Care Associate & Managing Director, Shoppers Stop Ltd. said, “We have seen a very impressive like-to-like growth of 15.5% in Q2FY14. With the onset of the festive season, marked by Durga Puja in the East, the upbeat momentum is expected to continue into the next quarter on account of festivities of Dussehra, Diwali and Christmas. SSL continues to expand its retail footprint across all store formats adding stores in existing and newer cities like Vadodara, Agra, etc.”
During the quarter, Shoppers Stop was chosen as ‘India’s Most Respected Retail Company’ by Business World Magazine, for the 2nd time in succession. SSL was awarded the ‘Excellence in Training & Development Award 2013’ from World HRD Congress. It was also honored with the ‘Best Supply Chain Company in Retail vertical’ award at 7th Express, Logistics & Supply Chain Leadership Awards 2013.