Shoppers Stop reports improved Q2 FY26 financial results

Shoppers Stop Ltd., a leading Indian department store, has announced its financial results for the second quarter of fiscal year 2026 (Q2 FY26), demonstrating sustained growth in its core business and new ventures despite macroeconomic challenges. The company reported consolidated net loss of 20.1 crore (2.29 million dollars) for the quarter against a loss of 20.5 crore a year earlier, whiles total revenue increased around 13 percent to 1,256 crore.

More significantly, the core department business achieved a Like-for-Like (LFL) growth of 9.4 percent, which was amplified by a 6 percent LFL growth in customer entry—a positive growth recorded for the first time in many years.

According to Kavindra Mishra, MD and CEO of Shoppers Stop Ltd., the performance reflects "sustained good performance and outgrowing quarter after quarter," driven by initiatives such as premiumisation and enhanced customer engagement. He highlighted that the core business's EBITDA grew by 42 percent and the profit before tax (PBT) "turned the corner" from a loss to a profit of Rs 9 crore in Q2 (on a Non-GAAP basis).

The beauty segment delivered sales of Rs 331 crore (up 22 percent), with the opening of three new beauty outlets, including boutiques for Armani beauty and NARS. The company is set to further expand its beauty distribution by launching global luxury fragrance and cosmetics brands by EuroItalia.

The new businesses, including the value fashion brand Intune and the online beauty platform Ss.beauty.in, reported a combined sales growth of 75 percent, with performance notably accelerating in the last quarter. Intune itself saw a 70 percent contribution to sales (Rs 70 crore), despite being a segment the company has been investing heavily in.

Private Brands sales reached Rs 161 crore, contributing 13 percent to overall sales, driven by an improved productivity and focus on innovative designs.

The company's store expansion included the launch of three Intune stores, three beauty stores, and one department store during the quarter, with a CAPEX of Rs 34 crore. Mishra expressed confidence for the coming months, expecting the demand to "increase and stabilize" with the combination of festive and wedding seasons delivering "strong results."