Shoppers Stop expects 25% growth in FY 2017-18
India's multi brand retailer Shoppers Stop Ltd is expecting a 25 percent profitability growth and a 12 percent sales growth in this financial year, said a top company official.
The departmental store chain turnover for the first quarter of financial year 2017-18 grew 21.40 percent to Rs 946.44 crore as against Rs 779.60 crore in June quarter of previous fiscal. The company's loss had also narrowed by 72.64 percent to Rs 3.71 crore.
"For the entire year, we are looking at 12 per cent overall sales growth and the profitability growth should be double of the sales growth for the year... growth of bottomline should be 25 per cent," company's Customer Care Associate and Managing Director Govind Shrikhande told reporters in Kolkata.
The company is hoping that the upcoming festive season will boost sales and help the firm achieve its targets. Shoppers stop sales were affected in July due doubt in people’s mind over prices due to the implementation of GST, however the company’s sales surges post GST witnessing a growth of 22 percent in overall sales.
Shoppers Stop has earmarked a capital investment of Rs 100 crore for the current fiscal and plans to add five more stores this year.
Shoppers stop currently has 79 operational stores across the country and 19 stores under HyperCity brand. The company also operates HomeStop and specialty stores such as Crossword, Mothercare, Estee Lauder, Clinique, Bobbi Brown and M.A.C across India.
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