Published
Feb 2, 2020
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Shoppers Stop reports Q3 net loss of Rs 7 crore

Published
Feb 2, 2020

Retail chain Shoppers Stop Ltd reported a consolidated net loss of Rs 7 crore ($1 million) for the third quarter ended December 31, 2019, as against a net profit of Rs 42 crore it had posted in the year-ago period.
 

Shoppers Stop reports Q3 net loss of Rs 7 crore - Shoppers Stop


The company’s revenue for the October-December quarter dropped slightly to Rs 1,026 crore, as against Rs 1,028 crore it posted last year.
 
Shoppers Stop total expenses in the quarter were at Rs 964 crore, as against Rs 961 crore in the third quarter of 2018-19.

Commenting on the Q3 performance, Rajiv Suri managing director & CEO of Shoppers Stop Ltd in a statement said, "In a challenging economic environment, we found opportunities to seed future growth for the company by aggressive expansion through internal accruals. During the year, we opened 28 stores (eight department and 20 beauty) and plan to open 23 stores  (four department, 11 beauty and eight airport stores) in Q4.”
 
“During this fiscal, the company has made large investments in digital and information technology transformation for Rs 30 crore. These investments will enable us to sharpen our analytic capabilities which will improve overall customer experience and personalization besides supporting our growth,” he added.
 
Shoppers Stop added 15 new stores during the quarter of which six are department stores and nine beauty doors to end the December quarter with 89 Department stores and 135 Beauty doors across 42 cities in India.

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