Shoppers Stop to invest in ecommerce for growth
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Shoppers Stop has managed to report a 4 percent rise in like-to-like sales in the fourth quarter. The company posted year-on-year stand-alone revenue growth of 9.3 percent to Rs 815 crores. Led by strong operating profit and other income growth, the company’s net profit increased 27 percent to Rs 10.3 crores.
The company also plans to infuse Rs 140 crores raised through internal accruals to expand its store presence and online sales infrastructure within next one year. With 73 stores, the company is looking forward to adding six Shoppers Stop stores, three HyperCity stores and five specialty stores over the next 12 months. The company has managed to generate Rs 150 crores of cash through sales last year and expects to earn around Rs 190 crores through sales over the next year.