Shop­pers Stop turnover up 23%

VM&RD - - WASSUP! -

Re­tail ma­jor Shop­pers Stop Ltd (SSL), the op­er­a­tor of large for­mat depart­ment stores, home stores and spe­cialty stores like Crossword, Mother­care, M.A.C, and hy­per­mar­kets, has re­ported a gross re­tail turnover of Rs.820.6 crore for the quar­ter ended Septem­ber 30th, 2013 as against Rs. 666.4 crores in Q2 FY’ 13; up 23% while the Net Profit stood at Rs. Rs. 9.9 crores for the quar­ter ended Septem­ber 30th, 2013. The brand doesn’t seem to stop here as it fur­ther shows a dou­bledigit like-to-like growth at 15.5% along with EBIDTA at Rs.39.8 crore, a growth of 37%. With 61 stores across 30 cities in In­dia, Shop­pers Stop con­tin­ues to grow and ex­pand its re­tail foot­print. This quar­ter, SSL added two new Shop­pers Stop stores at Agra and Vado­dara, two Clin­ique doors at Mum­bai and Am­rit­sar, two M.A.C doors at Ben­galuru and Am­rit­sar and one Hyper­City store at Vado­dara. Apart from driv­ing ahead its suc­cess­ful Loy­alty pro­gramme, SSL con­tin­ued to ex­pand its mem­ber­ship base adding more than 91,000 new mem­bers to the First Cit­i­zen Loy­alty Pro­gramme in Q2 FY14. The pro­gramme now has a to­tal First Cit­i­zen base of over 30.87 lakh mem­bers. Speak­ing on the fi­nan­cial per­for­mance, Govind Shrikhande – Cus­tomer Care As­so­ci­ate & Man­ag­ing Di­rec­tor, Shop­pers Stop Ltd. said, “We have seen a very im­pres­sive like-to-like growth of 15.5% in Q2FY14. With the on­set of the fes­tive sea­son, marked by Durga Puja in the East, the up­beat mo­men­tum is ex­pected to con­tinue into the next quar­ter on ac­count of fes­tiv­i­ties of Dussehra, Di­wali and Christ­mas. SSL con­tin­ues to ex­pand its re­tail foot­print across all store for­mats adding stores in ex­ist­ing and newer cities like Vado­dara, Agra, etc.”

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