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Indian retailer Shoppers Stop's Q4 FY21 sales dip 10% to ₹825 cr
19 Jun 21 2 min read
Shoppers Stop Limited, an Indian department store chain, has posted 9.9 per cent revenue decline to ₹825.3 crore in its fourth quarter (Q4) of FY21 ended on March 31, 2021, compared to the revenue of ₹915.5 crore in the corresponding quarter of previous fiscal. The company's EBITDA for Q4 FY21 rose to ₹10.5 crore (Q4 FY20: loss ₹16.7 crore).
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“Business recovery till Mid-March had been very encouraging. However, with surge in Covid cases, we witnessed a drop in footfall resulting into drop in revenue,” Venu Nair, customer care associate, managing director and chief executive officer at Shoppers Stop Limited, said in a press release.
“Our omni channel grew by 188 per cent (3 times), private brands volume grew by 38 per cent, beauty outperforming with the start of make-up from mid-January,” Nair added.
“Our success in transforming and revamping private brands continue to yield results. During the quarter, we launched performance wear and athleisure brand, Altlife and Insense in the women’s sleepwear category. We have significantly improved our fashion quotient relevant to latest trends, besides upgrading the quality of merchandise. We have simplified the price matrix. Our customers are recognising the improvements that have been made offering great fashion, & quality at affordable price points,” Nair said in the release.
Fibre2Fashion News Desk (JL)
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