NewsVoir | 31 Jul, 2015
Shoppers Stop Ltd (SSL), Indiaâs prominent retail group (operator of large format department stores, home stores, specialty stores like Crossword, Mothercare, M.A.C, and hypermarkets) today reported a gross retail turnover of Rs. 775.6 crore for the quarter ended June 30th, 2015 as against Rs. 675.5 crore in the corresponding period last year. Profit Before tax and exceptional item for the quarter stood at Rs. 4.0 crore.
With 73 stores across 34 cities in India, Shoppers Stop continues to grow and expand its retail footprint. This quarter, SSL added 2 Shoppers Stop stores at Bengaluru and Mangalore, 1 Hypercity store in Pune.
Driving ahead its successful Loyalty programme, SSL continued to expand its membership base adding 105,671 new members to the First Citizen Loyalty Programme in Q1FY16. The programme now has a total First Citizen base of over 38 lac members.
Speaking on the performance, Mr. Govind Shrikhande â Customer Care Associate & Managing Director, Shoppers Stop Ltd. said, âFY16 has begun on a positive note with a strong like-to-like growth of 12.7%. In this quarter, we have introduced exclusive brands such as Spanish fashion brand Desigual. Moreover, we plan to invest Rs. 60 crore over the next three years in our omni-channel initiative, supply chain & talent and target to achieve 10% revenue through digital-touch points over the next 3 years. On the back of such initiatives, we are positive that we will see a steady growth over the forthcoming quarters.
As a process, we constantly monitor the value of our investments in our joint venture and subsidiary companies, based on their future profitabilities and cash flows. In this quarter, we have taken a one time impairment in the value of investment in our duty free airport retailing joint venture company.
During the quarter, SSL was awarded "Economic Times - Excellence In Supply Chain & Logistics Award" established by Economic Times.
Shoppers Stop and its retail invested companies operate the following number of stores/doors as on June 30th, 2015:
HyperCity â Currently has 17 stores, spread over an area of 12.22 lacs sq ft.
Key Highlights of performance:
Fashion & Home Retailing:
M.A.C (Cosmetics) â The retail agreement with Estee Lauder to open M.A.C stores. Currently has 35 stores with a presence in Mumbai, Bengaluru, Delhi, Amritsar, Chennai, Hyderabad, Pune, Gurgaon, Noida, Ludhiana, Chandigarh, Surat and Kolkata.
Clinique (Cosmetics) â Currently has 25 stores (including 13 standalone) in Mumbai, Bengaluru, Delhi, Kolkata, Hyderabad, Amritsar, Chandigarh, Surat, Kolkata and Pune.
Estee Lauder - Currently has 9 stores (including 2 shop-in-shops), one each in Bengaluru, Mumbai, Chennai, Delhi and Gurgaon.
About Shoppers Stop Ltd
Shoppers Stop Ltd., a pioneer in modern retailing in India, has been promoted by K Raheja Corp. Group (Chandru L. Raheja Group), one of the leading groups in the business of real estate development and hotels in the country. Shoppers Stop Ltd along with its Subsidiaries Crossword Bookstores Ltd and Hypercity Retail (India) Ltd; and Joint Venture Companies Timezone Entertainment Pvt. Ltd and Nuance Group (India) Pvt. Ltd. operates more than 57.46 lacs sq ft in the country.
Shoppers Stop and its associate companies are involved in retailing through department stores, specialty stores, entertainment zones and large hypermarkets.
For Investor related queries on Shoppers Stop Limited write to: email@example.com