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Shoppers Stop revenue grows 3.1% in Q3 FY19

Feb '20
Pic: Shoppers Stop/ Madame
Pic: Shoppers Stop/ Madame
Shoppers Stop, an Indian department store chain, has reported 3.1 per cent increase in revenue from operations to ₹1,300 crore in third quarter (Q3) FY19 that ended on December 31, 2019.  During the quarter, the Earnings before interest, tax, depreciation and amortization (EBITDA) increased 1.7 per cent to ₹102.20 crore in compared to Q3 FY18 (non-GAAP).
The company reported they have added 15 stores during the quarter of which 6 are department stores and 9 beauty doors taking the total footprint to 89 department stores and 135 beauty doors across 42 cities in India.
"In a challenging economic environment, we found opportunities to seed future growth for the company by aggressive expansion through internal accruals. During the year we opened 28 stores (8 department and 20 beauty) and plan to open 23 Stores (4 department, 11 beauty and 8 airport stores) in Q4. This expansion will add circa ₹500 crore top-line on an annualised basis, more importantly, these stores have been EBITDA accretive within the first quarter of operation," Rajiv Suri, customer care associate, managing director & chief executive officer, Shoppers Stop said in a press release.
During the fiscal the Shoppers Stop made large investments in digital and information technology transformation of ₹30 crore. Company reported that these investments will enable them sharpen their analytic capabilities which will improve overall customer experience and personalisation besides supporting their growth.  
Company reported that their first citizen loyalty programme contributed 84 per cent (+5 per cent Y-o-Y basis) of revenue. The beauty segment grew 9.6 per cent and company is confident that this growth will sustain in the forthcoming quarters on the back of new beauty stores, upgrading the beauty experience in existing stores, the launch of new brands and strong omnichannel support. The company launched 4 new brands in beauty. Company's one-of-its-kind personal shopper programme grew by 5 per cent.

Fibre2Fashion News Desk (JL)

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