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Shoppers Stop narrows losses inQ1

By Meenakshi Kumar

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Shoppers Stop has narrowed its net loss to Rs 13.6 crores in first quarter despite a nine per cent rise in retail sales at Rs 821 crores. It had posted losses of Rs 21.6 crores a year ago.

The country's largest lifestyle retail chain's same-store sales, or sales excluding newly opened stores, increased 5.5 per cent year-on-year. Depreciation for the quarter saw an increase of 87 per cent on account of new stores and acceleration of depreciation in respect of certain stores. The retailer believes customer sentiment has been soft during this quarter and that starting from the second quarter of the financial year 2017 consumption should improve. EBITDA dropped by 22 per cent while margins were down 113 basis points.

Shoppers Stop is one of India’s largest retail chains of large format department stores. Covering the length and breadth of India, it has 65 outlets in 26 key cities occupying an aggregate retail space of approximately 2.7 million square feet. Shoppers Stop has not only been the pioneer in multi-brand retail space but has also introduced various other types of retail formats in India since its inception in 1991. The company has specialty stores for books (Crossword), Hypermarket (Hypercity) home decor (Home Stop) and maternity and infant care (Mother Care).

Shoppers Stop