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Q3FY15 retail sales lift 7.23% at Shoppers Stop
Jan '15
Gross retail turnover at specialty stores retailer, Shoppers Stop Ltd (SSL) lifted 7.23 per cent year on year in the third fiscal quarter ended December 31, 2014.

SSL said its gross retail turnover stood at Rs. 844.77 crore for the quarter ended December 31, 2014 as against Rs. 787.49 crore in the corresponding period last year, up 7.23 per cent.

SSL which operates various formats like Shoppers Stop, Crossword, Mothercare, M.A.C, Hypermarket, etc, posted net profit at Rs. 13.77 crore for the quarter.

“With 73 stores across 34 cities in India, Shoppers Stop format continues to grow and expand its retail footprint,” the retailer added.

In the reporting quarter, SSL added one new Shoppers Stop store in Mangalore, one Bobbi Brown store in Delhi, One Mothercare SIS store in Vizag and two Crossword stores in Bengaluru and Kohima.

Driving ahead its successful Loyalty programme, SSL continued to expand its membership base adding 120,622 new members to the First Citizen Loyalty Programme in the quarter under review.

It informed that the programme now has a total First Citizen base of over 3.63 million members.

MD Govind Shrikhande said, “SSL continues its growth trajectory by adding new stores across formats.”

“We are formulating our omni-channel retailing approach over the next few months and are confident that our omni-channel efforts will help us in countering the disruption created by online players,” he added.

During the quarter, the Shoppers Stop brand was selected as a ‘Superbrand’ in India for the fourth consecutive year, and was also selected among ‘100 Most Valuable Brands’ of 2014.

As on December 31, 2014, in the fashion and home retailing format, there are currently 73 Shoppers Stop stores in 34 cities and 19 HomeStop stores in 12 cities.

In mixed retailing, SSL manages HyperCity, which has 15 stores, spread over an area of 1.21 million sq ft.
In the quarter under preview, this format posted sales growth of 6 per cent and like-to-like sales per sq ft. growth of 19.7 per cent.

In specialty retailing, Mothercare currently operates 43 stores including 3 standalone stores. (AR)

Fibre2fashion News Desk - India

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