News Flash

Shopper's Stop gross retail turnover jumps in Q1 FY '07

29 Jul '06

2 min read

India's leading large format department store chain Shopper's Stop Limited has reported a 33 percent increase in Gross Total Retail turnover at Rs. 1809 mn in the first quarter ended June 30, 2006 as compared to Rs 1361 mn for the same period last year.

Gross Margin rose by 39 percent to Rs. 580 mn for the quarter as compared to Rs. 416 mn posted in the corresponding quarter last year. Profit before tax was up by 113 percent to Rs. 110 mn from Rs. 52 mn in the corresponding quarter last year. Net Profit rose by 96 percent to Rs. 70 mn for the quarter as compared to Rs. 36 mn posted in the corresponding quarter last year.

Mr. B. S. Nagesh, Customer Care Associate, Managing Director of Shopper's Stop Ltd., said “The Company was successful in achieving the targeted revenues and profit in this quarter. The margins have shown a good improvement. I would like to thank all our Customer Care Associates for the growth that we have delivered”.

During Q1FY07, the company added 2060 sq ft by opening 2 Crossword stores. With that as on June 30, 2006 total number of Shoppers stop stores, Crossword stores and Home Stop stores were 19, 33 and 1 respectively in 10 cities across India.

During this quarter Shopper's Stop Ltd signed a MoU with Switzerland-based Nuance Group, a leading airport retailing company for setting up a 50:50 joint venture to enter the duty-free retail market at Indian airports.

Stopper's Stop Ltd, a pioneer in setting up nation-wide chain of large format department stores in India, has been promoted by K Raheja Corp Group (Chandru L. Raheja Group), one of the leading groups in the business of real estate development and hotels in the country. The retail chain has 20 stores in 10 cities across the country occupying an aggregate area of 950,000 sq. ft.

Shoppers' Stop retails a range of branded and own label apparel, footwear, perfumes, cosmetics, jewellery, leather products and accessories, home products, books, music and toys. All these are well complemented by café, food, entertainment, personal care and various beauty related services.

Shopper's Stop Limited

More Shoppers Stop News... More Fashion News - India...