Shoppers Stop revenues grow to Rs 210 crore albeit it operated 28% of days in Q1FY22
7th August 2021
The FY22 Q1 revenues of Shoppers Stop have grown to Rs 201.0 crore against revenue of Rs 53.9 crore in the corresponding quarter of prior fiscal. The stores operated merely for 28 per cent of days in Q1, which impacted the sales and profits, according to the company.
The company’s EBITDA for Q1 FY22 marginally declined to Rs 1.3 crore from Rs 1.6 crore. However, loss for the period reduced to Rs 104.9 crore from the earlier loss: of Rs 120.2 crore.
During the quarter, Shoppers Stop launched itsr new brand viz “Bandeya” in mens Indianwear category. Its private brand ‘insense’ recorded the highest sales in women western wear category. The Indian fashion retailer aims to open over 20 stores across large and small formats in FY22 besides modernizing 10-15 stores.
For operational days of June’21, the retailer observed west recorded 70 per cent recovery, north and east at 50 per cent while recovery of south was lower due to higher COVID cases.
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