Published
Jan 29, 2019
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Shoppers Stop witnesses strong growth, Q3 profit jumps 171% to Rs 44 crore

Published
Jan 29, 2019

Indian fashion retailer Shoppers Stop witnessed ‘phenomenal growth’ during the third quarter of the financial year 2018-19 ending December 31, 2018, on the back on strong sales across all categories.
 

Shoppers Stop Q3 profit jumps 171% to Rs 44 crore - Shoppers Stop


The company’s net profit soared 171 percent to Rs 44 crore ($6.2 million) during the October-December period as compared to the Rs 16 crore it had posted during the same period last fiscal.
 
The company’s revenue also rose 4 percent to Rs 999 crore as against Rs 963 crore it posted during the corresponding period last fiscal.

Commenting on the results, Rajiv Suri, managing director and chief executive officer at Shoppers Stop Ltd, said, “Shoppers Stop has continued to show strong growth in the fast-changing fashion industry and is in an exciting transitional period. We have witnessed a phenomenal 8.9% LTL growth in Q3FY19, highest in the last five quarters backed by an uptick across all zones and categories including apparels, personal accessories, and beauty which saw a double-digit growth.
 
"December saw highest ever sales in a single month since our inception. Indian wear dominated the apparels category with 21% growth followed by denims which grew by 15% in Q3FY19. Our private brands grew by 29% for this quarter, a clear testament of the fresh assortment being appreciated by our customers."
 
Shoppers Stop currently has 83 large stores spread across 38 cities in the country along with an e-commerce website, m-site and mobile application.

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