Shoppers Stop Q1 revenue up 22 percent to 941 crore
India’s leading departmental store chain, Shoppers Stop Limited (SSL) 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.
As a result of that the company's loss narrowed by 72.64 percent to Rs 3.71 crore for first quarter ended June 30, 2017. The company had reported net loss of Rs 13.56 crore during the same period last year.
"The year has begun on a strong footing with sales growth of 22 per cent. Post-GST, there have been supply challenges and we are executing things to settle down before the big festive season. Our omni-channel execution is on track to be ready by the third quarter,” Shoppers Stop customer care associate and MD Govind Shrikhande said in a statement.
Shoppers Stop also launched an exclusive collection ‘Rheson’ designed by Bollywood actress Sonam Kapoor and sister Rhea Kapoor.
The company runs 80 stores under the Shoppers Stop format and 19 stores under HyperCity. Besides, 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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