Published
Jul 31, 2019
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Shoppers Stop posts Q1 net loss of Rs 10 lakh

Published
Jul 31, 2019

Retail chain Shoppers Stop reported a net loss of Rs 10 lakh ($14,524) for the first quarter ended June 30, 2019, as against a net profit of Rs 5 crore it had posted in the corresponding quarter a year-ago.
 

Shoppers Stop posts Q1 net loss of Rs 10 lakh - Shoppers Stop


The company’s revenue for the quarter also slumped to Rs 856 crore, as against Rs 858 crore it had reported in the year-ago period.
 
Commenting on the Q1 results, Rajiv Suri, managing director and CEO at Shoppers Stop in a statement said, "Whilst the country's economic growth has slowed down in overall consumption, impacting primarily agriculture, retail and manufacturing, Shoppers Stop achieved a mid-single digit 5.2 per cent like-to-like sales growth, in line with our expectations.

"We continue to invest in our private brands, design studio, sampling units and testing labs that are now operational. We expect to see a positive impact in our collection range from the coming seasons."
 
During the April-June period, Shoppers Stop added one department store at Guwahati, four MAC stores and launched a new luxury multi-brand beauty store concept, Arcelia, at the GVK Mall, Hyderabad.
 
Shoppers Stop ended the quarter with 83 department stores across 40 cities and 120 beauty stores.

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