Shoppers Stop reports 363 per cent rise in Q1 net profit

Shoppers Stop’s Q1 net profit jumped 363 per cent this fiscal. Ebitda increased 37 per cent due to a reduction in operating expenses. With improved operational efficiencies and cost management, Shoppers Stop delivered significant improvement in ebitda and pbt.

The retail chain will continue to keep its prime focus on engaging customers through delightful shopping experiences and services. It recently launched an extension to its personal shopper program with the service now available at home/office across Mumbai and Bangalore stores.

At present, the company operates 83 Shoppers Stop stores in 38 cities and 13 Home Stop stores in nine cities. This year Shoppers Stop will invest in customer relationship management and warehousing management systems to build on cross-channel customer service, supply chain and operations capabilities, enabling customer journeys, such as click and collect, endless aisle and ship from store.

The objective of the project is to create the next generation of Shoppers Stop stores that can navigate across channels and establish it as the most preferred brand and retail destination. The project focuses on areas of assortment, customer loyalty, store footprint, private brands, positioning and omni-channel strategy.