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Shoppers Stop FY20: sales ₹4,448 cr; EBITDA ₹183 cr
01 Jul 20 2 min read
Shoppers Stop Ltd, an Indian department store chain, posted 0.9 per cent decline in its total revenue of ₹4,447.7 crore in fiscal 2020 ended on March 31, 2020 compared to revenue of ₹4,489.8 crore in previous fiscal year. EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the year fell to ₹182.9 crore (FY19: ₹264.5 crore).
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Company’s profit after tax (PBT) for the year were in loss of ₹196.1 crore compared to profit of ₹31.0 crore in FY19.
“The year started with an exceptional pace of expansion and growth but closed on a sombre note as the world faced a one-of its-kind crisis in the outbreak of Covid-19,” Rajiv Suri, customer care associate, managing director & chief executive officer, Shoppers Stop Ltd, said in a press release.
The complete lockdown in March impacted the quarter performance as the full chain of 252 stores were shut down whilst all fixed costs remained in the books. We added 11 department stores 22 beauty stores and 5 airport doors during this year, investing ₹212 crore. from our internal accruals to set us up for exponential growth in the coming years.”
For the fourth quarter (Q4) FY20, Shoppers Stop’s total revenue fell 12.3 per cent to ₹930.1 crore (Q1 FY19: ₹1,060.0 crore). Company incurred a loss in EBITDA for the reported quarter of ₹16.7 crore compared to earnings of ₹64.1 crore in Q4 FY19.
During the quarter, company added 3 department stores and 6 beauty doors taking the total footprint to 89 department stores (net of 5 closures during the year) and 132 Beauty doors across 44 cities in India as at March 31, 2020.
“The company has re-opened 50+ stores post lockdown and is actively engaged with our First Citizen customers both online and offline. The engagement across social media, e-commerce portal, website and app and personal shoppers has ensured a high brand recall.” Suri said.
Fibre2Fashion News Desk (JL)
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