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Shoppers Stop Q1FY18 retail turnover up 22%
Jul '17
Shoppers Stop, India's prominent retail group, has recorded retail turnover of Rs 941.1 crore for the first quarter of 2018, up 22 per cent, as against Rs 772.2 crore in the corresponding period last year. The company's EBIDTA was Rs 35.4 crore, a growth of 14 per cent over Q1FY17. Currently, it has 80 stores (including six airport stores) in 38 cities.

"The year has begun on a strong footing with sales growth at 22 per cent. We have had an action-packed quarter with the much-awaited launch of Rhea and Sonam Kapoor’s brand Rheson as well as the designer of the year awards. We will continue to design such impactful campaigns in the year," said Govind Shrikhande, customer care associate & managing director, Shoppers Stop.

"Post GST, there have been supply challenges and we are expecting things to settle down before the big festive season. Our omni-channel execution is on track to be ready by Q3 FY17-18," added Shrikhande.

For the first quarter of 2018, Shoppers Stop witnessed sales growth by 8 per cent, with net margin growth of 20 basis point. The fashion share was 16.8 per cent. For the reported period, store EBIDTA was Rs 6.9 crore. The company has also expanded its membership base by adding 158,894 new members to the First Citizen Loyalty Programme in Q1FY18. The programme now has a total first citizen base of over 48 lakh members. (RR)

Fibre2Fashion News Desk – India

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