Home / Knowledge / News / Apparel/Garments / Shoppers Stop revenue in Q3FY15 grows 17.1%
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

Must ReadView All

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Courtesy: Gucci/Pantone

Textiles | On 9th Dec 2016

Pantone announces greenery as colour of the year 2017

Pantone, an X-Rite company and the global authority on colour and...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Steve Cole
Xerium Technologies

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search