Shoppers Stop witnessed a net loss of Rs 36.06 crore on standalone basis in Q4 FY17 due to onetime provision for investment impairment considered for Hypercity for Rs 36 crore and NGIPL for Rs 11.8 crore in Q4.
EBIDTA of the retail group was at Rs 58.3 crore, recording a growth of 2.1 per cent over Q$ FY16. It also expanded its membership base by adding 112,407 new members to the First Citizen Loyalty Programme in Q4 FY17. The program now has a total First Citizen base of 4.7 million members.
"This year has been disruptive on several fronts, as we have seen a lot of changes in global politics and domestic economic policies such as demonetisation. On the back of these headwinds, FY17 has seen a softer growth of 9 per cent. We are very positive about FY18 as we have a slew of exciting actions to bring Romance back to Retail. We will also see our investments in Omni-channel, digitisation of stores and our e-commerce push bear fruit in the coming year," said Govind Shrikhande, customer care associate & managing director of Shoppers Stop.
Shoppers Stop currently has close to 80 stores, including 6 airport stores in 38 cities. (KD)
Fibre2Fashion News Desk – India
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