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Shoppers Stop retail turnover up 3.7% to ₹999.1 cr in Q3

29
Jan '19
Courtesy: Shoppers Stop
Courtesy: Shoppers Stop
The retail turnover of Shoppers Stop for the third quarter of fiscal 2019 went up 3.7 per cent to ₹999.1 crore in comparison to ₹963.2 crore in the corresponding period of last year. EBITDA of India’s leading fashion and beauty destination for the reported period climbed 20.9 per cent, underpinned by strong LTL growth of 8.9 per cent.

Excluding the adjustments made in turnover owing to Indian Accounting Standard 115 (IND AS 115) and the changes made in GST, the revenue growth would have been 9.9 per cent. Profit Before Tax for the quarter has been recorded ₹69.2 crore.

"Shoppers Stop has continued to show strong growth in the fast changing fashion industry and is in an exciting transitional period. We have witnessed a phenomenal 8.9 per cent LTL growth in Q3FY19, highest in the last five quarters backed by an uptick across all zones and categories including apparels, personal accessories and beauty which saw a double digit growth. December saw highest ever sales in a single month since our inception. Indian wear dominated the apparels category with 21 per cent growth followed by denims which grew by 15 per cent in Q3FY19. Our private brands grew by 29 per cent for this quarter, a clear testament of the fresh assortment being appreciated by our customers. We also received positive response from customers during festive and wedding season followed by our brand campaign ‘All About Her’," Rajiv Suri, customer care associate, managing director & chief executive officer, Shoppers Stop Ltd. said.

He further added, our personal shopper service contributed 14 per cent of our sales and continues to grow with the customers average spend increasing through relevant selection and assistance. We endeavor to provide a delightful shopping experience for our customers every time they visit us, making Shoppers Stop their destination of choice.

In order to ease shopping and make Shoppers Stop’s fashion and beauty collections available to maximum number of customers through its online platforms, the company is offering Click & Collect service in over 50+ stores and serves over 25,000 pin codes in India through its omni-channel presence. The company boasts of 5.9 million First Citizen members actively engaged through its successful Loyalty programme as of Q3FY19. (RR)

 

Fibre2Fashion News Desk – India


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