Published
Jun 21, 2018
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Shoppers Stop shuts store at Raipur airport

Published
Jun 21, 2018

Indian fashion retail chain Shoppers Stop Limited has closed down its store at the Swami Vivekananda Airport, Raipur, due to non-renewal of airport store premises agreement.
 

Shoppers Stop shuts store at Raipur airport - Shoppers Stop


“During the last financial year 2017-18, sales from this store were Rs 354.8 lac, which is 0.08% of the turnover of the company. With this closure, the company has now 83 "Shoppers Stop" stores (including five airport stores) under its operations,” Shoppers Stop said in a statement to BSE.
 
Shoppers Stop had posted profit of Rs 12 crore (approx $1.8 million) for the fiscal 2017-18 with sales revenue of Rs 3,607 crore (approx $541.5 million).

Shoppers Stop after a shuffle in its top management with Rajiv Suri taking over as Managing Director from Govind Shrikhande and Karunakaran Mohanasundaram taking charge as Chief Financial Officer is all set to expand and renovate its stores this fiscal.
 
The company has earmarked Rs 120 crore (approx $ 18 million) on expansion and renovation of its existing stores. It will be entering tier 2 cities such as Guwahati, Pune, Bhubaneswar, Calicut and Nashik, to boost omni-channel operations this year.
 
Shoppers Stop is owned by K Raheja Corp Group and currently operates 83 stores under Shoppers Stop brand in 38 cities and 13 stores of HomeStop in 10 cities.

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