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Shoppers Stop posts turnover of ₹864.5 crore in Q2FY19

Oct '18
Shoppers Stop posts turnover of ₹864.5 crore in Q2FY19
Shoppers Stop Ltd (SSL), India's leading fashion and beauty operator that has brands spread across multiple categories including apparel and footwear, has reported retail turnover of ₹864.5 crore for Q2FY19 as against ₹837.6 crore in the corresponding period last year. The profit before tax for Q2 stood at ₹22.9 crore as against ₹19.5 crore last year. 
"We are encouraged by the festive sales during Durga Puja in east which witnessed a strong growth ranging from 18 to 20 per cent during the season. Overall, our revenues have increased by a healthy 7.4 per cent in Q2FY19 as compared to Q2FY18 despite Diwali and Puja shifting by a month this year. On a like-to-like basis for the quarter, our sales have increased by 3.6 per cent riding on our continuous efforts to provide immersive and seamless shopping experiences across in-store and online platforms," said Rajiv Suri, customer care associate, managing director & chief executive officer, Shoppers Stop, in a press release.
"We have expanded our 'Personal Shopper at Home' programme across 9 cities which is further helping us to serve our customers with delightful shopping experiences. Our innovative personal shoppers' services currently contribute 13 per cent of the sales revenue. Additionally, ladies ethnic wear has performed well and is expected to grow further owing to the upcoming festive season," added Suri.
With a view to ease shopping and making Shoppers Stop's fashion collections available to maximum customers through its online platforms, the company has scaled its Click & Collect service to over 50+ stores and expanded the fulfilment centre base to 37 stores and 4 warehouses. This can together deliver to over 25,000+ pin codes in India. Driving ahead its successful First Citizen Loyalty programme, SSL continued to expand its membership base with a total of 5.7 million members as of Q2FY19. (PC)

Fibre2Fashion News Desk – India

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