Indian retailer Shoppers Stop's Q2 sales more than doubles to ₹709 cr

Shoppers Stop Limited, a leading retailer in India, has recorded a 117 per cent revenue growth to ₹709 crore in the second quarter (Q2) of FY22 ended on September 30, 2021, over the revenue of ₹327 crore in the corresponding quarter of prior fiscal. The company’s loss after tax for the three-month period narrowed down from ₹103 crore in Q2 FY21 to ₹3 crore in the reported quarter.

 

Shoppers Stop, a leading fashion retailer, has recorded a 117 per cent revenue growth to ₹709 crore in the second quarter (Q2) of FY22 ended on September 30, 2021, over the revenue of ₹327 crore in the corresponding quarter of prior fiscal. The company's loss after tax narrowed down from ₹103 crore in Q2 FY21 to ₹3 crore in the reported quarter.#

“The demand postponement triggered by the second wave of the pandemic witnessed a strong comeback in Q2. While July was muted with multiple lockdowns and Maharashtra completely closed, August and September witnessed a sharp recovery,” Venu Nair, managing director and chief executive officer at Shoppers Stop Limited, said in a press release.

 

Shoppers Stop, a leading fashion retailer, has recorded a 117 per cent revenue growth to ₹709 crore in the second quarter (Q2) of FY22 ended on September 30, 2021, over the revenue of ₹327 crore in the corresponding quarter of prior fiscal. The company's loss after tax narrowed down from ₹103 crore in Q2 FY21 to ₹3 crore in the reported quarter.#

“Our performance has been very good across all segments, with omni, private and beauty outperforming. We have witnessed a strong volume growth of 59 per cent (overall value growth of 90 per cent), primarily led by apparels,” Nair continued.

 

Shoppers Stop, a leading fashion retailer, has recorded a 117 per cent revenue growth to ₹709 crore in the second quarter (Q2) of FY22 ended on September 30, 2021, over the revenue of ₹327 crore in the corresponding quarter of prior fiscal. The company's loss after tax narrowed down from ₹103 crore in Q2 FY21 to ₹3 crore in the reported quarter.#

The fashion retailer’s EBITDA for Q2 quadrupled to ₹138 crore (₹28 crore).

 

Shoppers Stop, a leading fashion retailer, has recorded a 117 per cent revenue growth to ₹709 crore in the second quarter (Q2) of FY22 ended on September 30, 2021, over the revenue of ₹327 crore in the corresponding quarter of prior fiscal. The company's loss after tax narrowed down from ₹103 crore in Q2 FY21 to ₹3 crore in the reported quarter.#

“I am pleased to welcome Arun Sirdeshmukh and Christine Kasoulis on the board of the company. Sirdeshmukh has been associated with the fashion business in India for over 25 years, and has built some of India’s largest fashion brands and Retail businesses such as Reliance Trends, Amazon Fashion, etc. Christine Kasoulis comes from John Lewis, UK, having extensive retail experience and a proven track record of identifying future consumer trends and delivering market leading propositions across multiple product groups including home, fashion, beauty, nursery and sports,” Nair said.