Shoppers Stop Ltd announced its fiscal second quarter earnings with a loss of Rs 20.59 crore in comparison to a profit of Rs 2.73 crore recorded during the corresponding quarter of FY24, due to subdued demand. It posted revenue from operations at Rs 1,114.87 crore, up 7.3 per cent as against Rs 1,039.12 crore during the same period of previous financial year.
The company posted sales for the quarter at Rs 1,068 crore, +4 per cent with EBITDA at Rs 157 crore (GAAP). Shoppers Stop said that it had the first green shoot in September, with sales increasing by 12 per cent (LTL +9 per cent).
The contribution from the Premium category increased by 4 per cent, with an overall mix of 64 per cent vs 60 per cent a year ago. The Beauty category continued to outperform, with sales growth at 10 per cent, led by a fragrance +17 per cent. In other KPIs, Items Per Transaction (IPT) increased by 2 per cent, Average Transaction Value (ATV) rose by 9 per cent, and Average Selling Price (ASP) grew by 7 per cent.
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Kavindra Mishra, MD and CEO of Shoppers Stop Ltd, said, “Despite a challenging external environment, we remained resilient in our pursuit to deliver growth. Shoppers Stop delivered notable financial results though the demand was muted in July and August, impacted by fewer wedding dates, extended rains, and overall weak discretionary spending. We kept a relentless focus on investing behind our Premium Category, with increased offerings in Premium Category this quarter. We renovated and made our Malad Store (in Mumbai) as a destination for Premium offerings.”
Performance across segments
First Citizen: Shoppers Stop’s First Citizen Members contributed 81 per cent to overall sales, with 67 per cent repeat and 14 per cent new members.
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