Q4FY19 sales at Shoppers Stop climb 6.9%

For FY19, the company reported sales of ₹3481.3 crore, excluding the impact of AS115 and GST, the growth is 6 per cent. The EBITDA for FY19 stood at ₹271.2 crore, up by 19.1 per cent y-o-y. The company posted Profit After Tax of ₹78.8 crore in FY19, (excluding mark to market of investments in FRL) up by 578.7 per cent. During the course of year, the company provided one-off depreciation for ₹32.53 crore, due to one store closure, one store relocation, upgrading stores and re-evaluating the life of the assets in line with the lease period.

"Last year has been a pivotal year in Shoppers Stop which makes the company embark on positive growth and results. We reviewed every aspect of our business and worked aggressively towards strengthening our strategic pillars of First Citizen Members, Personal Shoppers, Exclusive Brands and Beauty. We have made key investments in a new leadership team and are aiming for sustainable and industry leading growth in the years ahead. The keystones of fashion, personalisation and convenience remain at our core. Our commitment to doing what is in the best interest of our customers, associates and shareholders remains our focus," Rajiv Suri, customer care associate, managing director & chief executive officer, Shoppers Stop Ltd. said. (RR)

Fibre2Fashion News Desk – India