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Shoppers Stop reports Q2 FY21 revenue of ₹375 cr

Oct '20
Pic: Shoppers Stop
Pic: Shoppers Stop
Shoppers Stop Ltd, an Indian department store chain, posted 65.4 per cent revenue decline to ₹374.5 crore in its second quarter (Q2) FY21 that ended on September 30, 2020 compared to the revenue of ₹1,082.8 crore in the same period prior fiscal. EBITDA for the quarter was a loss making of ₹83.3 crore compared to earnings of ₹47.2 crore in Q2 FY20.
“Within the operative constraints, our company has performed better than expectations in all KPI’s. Overall, easing of lockdown and festive season ahead, we expect better footfall, sales and performance in Q3. We continue to engage with customers through social media campaigns through a number of initiatives such as, live video assistance for online buying, chat enabled messenger services, etc,” B S Nagesh, customer care associate, non-executive chairman at Shoppers Stop Ltd, said in a press release.
Company in the release stated that its Q2 performance were impacted by intermittent lockdowns as Maharashtra and Mumbai were closed until 2nd week of August and the number of operating days were 20 per cent lower than last year.
“Our e-commerce sales grew 50 per cent year-over-year, contributing to 7.8 per cent of the total revenue. We continue our journey to make Shoppers Stop a truly omni channel organisation,” Nagesh said.

Fibre2Fashion News Desk (JL)

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