22 January 2022, Mumbai:
The consolidated net profit of Shoppers Stop reached Rs 77.32 crore in the third quarter ended December 2021. The company had posted a net loss of Rs 25.11 crore in the October-December quarter a year ago.
Its revenue from operations increased by 33.82 per cent to Rs 958.11 crore during the period under review as against Rs 715.97 crore in the corresponding quarter of the previous fiscal. Total expenses increased by 16.23 per cent to Rs 905.14 crore in Q3/FY 2021-22, as against Rs 778.78 crore.
Venu Nair, Managing Director and CEO, says, as the fashion and beauty retail is seeing encouraging early trends from the Wardrobe Reboot, we are rightly poised to capture the pent-up demand.
The company has seen a sustained demand during the festive period and the marriage season in October and November. It has witnessed a high customer spend and a higher Average Transaction Value (ATV), adds Nair.
The company is encouraged by the strong rebound and expects an accelerated growth trajectory now, driven by a robust recovery from the lockdown blues, accelerated small size store expansion, growth in the private-label mix, and an increased focus on high growth beauty business.
Shoppers Stop operates 83 department stores in 45 cities. It also operates 11 premium home concept stores, 129 Specialty Beauty stores of M.A.C, Estee Lauder, Bobbi Brown.
