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Shoppers Stop posts 3.39% sales growth in Q2FY16
02 Nov '15
3 min read
Indian operator of large format department stores Shoppers Stop Ltd (SSL) reported a gross retail turnover growth of 3.39 per cent year over year in the third fiscal quarter ended September 30, 2015.
“SSL posted a gross retail turnover of Rs 975 crore for the three months to September 30, 2015 period as against Rs 943 crore in the corresponding quarter last fiscal,” a press release stated.
SSL which operates home stores, specialty stores like Shoppers Stop, Crossword, Mothercare, M.A.C, and hypermarkets said its net profit for the reporting quarter stood at Rs 12.8 crore.
SSL added that with 74 stores across 36 cities in India, the Shoppers Stop format continues to grow and expand its retail footprint.
This quarter, SSL added three Shoppers Stop stores at Kolkata, Kolhapur and Meerut and four Crossword stores in Trivandrum, Calicut, Kochi and Bangalore each.
Driving ahead its successful loyalty program, SSL continued to expand its membership base adding 82,354 new members to the program in the reporting quarter and which now stands at 39.24 lakh members.
Managing director Govind Shrikhande said, “We have seen a steady growth over the first half of this fiscal and our like-to-like growth at 5.3 per cent is a good sign and additionally, we are well poised for a strong festive season.”
The second quarter of fiscal 2016 like-to-like growth looks muted due to change of Puja/Dussera dates and reduction in the 'Sale' period,” he added.
“We are in an exciting phase right now with our omni-channel operations underway and our partnerships with Snapdeal & FreeCharge coming into effect this festive season,” Shrikhande informed.
“Our refreshed online site and app will go live before Diwali and we have signed Red Prairie from JDA for our next set of Investment in the omni-channel journey,” he too stated.
In line with the brand philosophy of 'Start Something New', Shoppers Stop has recently launched a first of its kind augmented reality dressing room – The Magic Mirror.
Installed in Shoppers Stop stores in Kolkata, Magic Mirror offers customers the option to try out apparel & accessory options through a virtual dressing room.
“By enabling customers to try on maximum number of products in less time, the Magic Mirror will optimise and further enrich the customers' shopping experience,” SSL observed.
During the quarter, SSL was bestowed the 'Most Admired Enterprise Solution Implementation' and 'Most Admired Retailer of the Year - Department Store 2015' at Images Retail Forum 2015.
It bagged the 'Quality Excellence Award - Supply Chain Sustainability' at the World Quality Congress.
Hypercity Retail (India) won five awards selected by the jury of the 'National Award for Excellence in Training & Development' and 'National Talent Management Leadership'. (AR)
“SSL posted a gross retail turnover of Rs 975 crore for the three months to September 30, 2015 period as against Rs 943 crore in the corresponding quarter last fiscal,” a press release stated.
SSL which operates home stores, specialty stores like Shoppers Stop, Crossword, Mothercare, M.A.C, and hypermarkets said its net profit for the reporting quarter stood at Rs 12.8 crore.
SSL added that with 74 stores across 36 cities in India, the Shoppers Stop format continues to grow and expand its retail footprint.
This quarter, SSL added three Shoppers Stop stores at Kolkata, Kolhapur and Meerut and four Crossword stores in Trivandrum, Calicut, Kochi and Bangalore each.
Driving ahead its successful loyalty program, SSL continued to expand its membership base adding 82,354 new members to the program in the reporting quarter and which now stands at 39.24 lakh members.
Managing director Govind Shrikhande said, “We have seen a steady growth over the first half of this fiscal and our like-to-like growth at 5.3 per cent is a good sign and additionally, we are well poised for a strong festive season.”
The second quarter of fiscal 2016 like-to-like growth looks muted due to change of Puja/Dussera dates and reduction in the 'Sale' period,” he added.
“We are in an exciting phase right now with our omni-channel operations underway and our partnerships with Snapdeal & FreeCharge coming into effect this festive season,” Shrikhande informed.
“Our refreshed online site and app will go live before Diwali and we have signed Red Prairie from JDA for our next set of Investment in the omni-channel journey,” he too stated.
In line with the brand philosophy of 'Start Something New', Shoppers Stop has recently launched a first of its kind augmented reality dressing room – The Magic Mirror.
Installed in Shoppers Stop stores in Kolkata, Magic Mirror offers customers the option to try out apparel & accessory options through a virtual dressing room.
“By enabling customers to try on maximum number of products in less time, the Magic Mirror will optimise and further enrich the customers' shopping experience,” SSL observed.
During the quarter, SSL was bestowed the 'Most Admired Enterprise Solution Implementation' and 'Most Admired Retailer of the Year - Department Store 2015' at Images Retail Forum 2015.
It bagged the 'Quality Excellence Award - Supply Chain Sustainability' at the World Quality Congress.
Hypercity Retail (India) won five awards selected by the jury of the 'National Award for Excellence in Training & Development' and 'National Talent Management Leadership'. (AR)
Fibre2Fashion News Desk – India
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