Shoppers Stop omni-channel sales doubled year on year and contributed eight per cent of total sales in the second quarter. The company aims at adding 10 department stores and 10 home and beauty stores over the next 18 months. As of September ’21, it had 80 department stores, 11 Home Shops, 127 beauty stores, 23 airport doors, taking the total store count to 241 spread across 44 cities. Shoppers Stop witnessed progressive growth in August ’21 and September ’21 with sales growing 140 per cent and 66 per cent respectively. With all stores fully operational, festive sales are now at pre-Covid levels aided by recovery of 100 per cent in the east, followed by the north.
There has been improvement in key strategic pillars, First Citizen (FC) customers contributed 75 per cent to sales in the second quarter. Personal Shoppers contributed 13 per cent sales. Private labels grew 90 per cent year on year and were 14 per cent of sales owing to 59 per cent volume growth while the beauty portfolio contributed 17 per cent to sales. The board of directors had accorded their approval for sale of 100 per cent equity shares in four tranches, held by Shoppers Stop in Crossword. On October 11, '21, the company completed the first tranche of the stake sale of 51 per cent.
