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Nov 4, 2016
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Shoppers Stop sees 11% decline in Q2

Nov 4, 2016

Shoppers Stop posted a 11% decline in net profit at Rs 10.68 crore for the quarter ended September.

Shoppers Stop sees 11% decline in Q2

The company posted a net profit of Rs 12.01 crore during the same period last year. Net sales were up by 7% at Rs 939.52 crore, the firm said.

The country's largest lifestyle retail chain’s same-store sales, or sales excluding newly opened stores, increased 3.4% year-on-year on a consolidated basis.

“We have seen a 2.2% like-to-like growth in the quarter. In the second half, with the festive season coming in, we expect to clock a higher growth rate,” said Govind Shrikhande, managing director, Shoppers Stop.

Store EBIDTA for the quarter was Rs 1.85 crore and net margin increased 100 basis points.

During the quarter, the company added one Shoppers Stop store, one Mothercare store and one HyperCITY store each at Orion Mall in Bengaluru. It also added one Bobbi Brown store at Noida and two Crossword stores at Thrissur and Thane.

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