Shoppers Stop net sales up 11.9% in 2015-16

Retail chain Shoppers Stop has reported an increase of 11.9 per cent in its net sales for 2015-16. The company’s total sales during the fiscal stood at Rs 3,413.20 crore compared to Rs 3,049.97 crore in the previous fiscal, Shoppers Stop said in a BSE filing.

Shoppers Stop’s standalone net profit for the year ended March 31, 2016, stood at Rs 25.17 crore, against Rs 40.73 crore in the corresponding period a year ago, showing a decline of 38.2 per cent.

In FY 16, Shoppers Stop took a slew of initiatives to strengthen its omni-channel strategy. The initiatives include its partnership with e-commerce technology platform Hybris from SAP, refreshed shopping website and the launch of new mobile app.

In the fourth quarter ended March 31, 2016, net profit declined by a marginal 1.16 per cent to Rs 10.17 crore.

Shoppers Stop plans to increase its store count to 102 in current fiscal.