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Shoppers Stop revenue in Q3FY15 grows 17.1%
01
Feb '16
Revenue for the three months to December 31, 2015 at multi-format retailer Shoppers Stop Ltd (SSL) grew 17.19 per cent to Rs 990.1 crore as against Rs 844.8 crore in the corresponding period last fiscal.

In the third quarter of fiscal 2016, the retailer which operates formats like Shoppers Stop, Mothercare, Crossword, etc saw its net profit soaring to Rs 23.6 crore; a steep growth of 71.3 per cent year over year.

“EBIDTA in the quarter under review amounted to Rs 71.2 crore, up 33 per cent over the fiscal ago quarter,” a press release from the retailer said.

In the reporting quarter, SSL added 2 Shoppers Stop stores in Jaipur and New Delhi, 1 Hypercity store in Noida, 1 MAC store at Hyderabad, 1 Mothercare store in Jaipur and 1 Crossword store in Gurgaon.

Driving ahead its successful loyalty program, SSL added that it continued to expand its membership base adding 117,670 new members to its First Citizen Loyalty program in the quarter.

Managing director, Govind Shrikhande said, “The third quarter is a peak festive shopping quarter and with Durga Puja moving to October this year, it has been a block buster quarter.”

“The Department Stores Format witnessed a double digit growth of 18.2 per cent and a strong like-to-like growth of 17.4 per cent in the period under review.”

He further added, “In line with our omni-channel strategy, we launched our refreshed website with marked improvements in usability and navigability, while a mobile app will be launched in February.”

During the quarter, SSL was awarded 'The Most Respected Company in Retail' by Business World Magazine for the fifth year in a row.

The company was also awarded the first and second prize of the 'National Energy Conservation Award' under the category Shopping Malls conducted by Ministry of Power, Government of India.

As on December 31, 2015, SSL operated 17 Hypercity stores, 76 Shoppers Stop outlets, 19 stores of Homestop in, 42 stores of Mothercare, 93 stores of Crossword and 36 outlets of M.A.C.

Clinique currently has 25 stores including 13 standalone, while Estee Lauder has 9 stores, Bobbi Brown 4 stores, 25 doors of Timezone Entertainment and two duty free stores.

SSL a pioneer in modern retailing in India has been promoted by K Raheja Corp. Group and through its various retail formats operates in more than 58.65 lakh sq. feet in India. (AR)

Fibre2Fashion News Desk – India

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