Shoppers Stop posts 1.1 per cent decline in Q4 net profit

There has been a marginal decline of 1.16 per cent in standalone net profit of Shoppers Stop. The net profit stood at Rs 10.17 crores for the fourth quarter ended March 31, 2016. In the January-March quarter, the company had posted a net profit of Rs 10.29 crore. The retail chain also reported that the total income from operations during the period under review was Rs 895.94 crores, up 9.68 per cent, from Rs 816.80 crores in the same quarter of the previous fiscal. For the year ended March 31, 2016, Shoppers Stop reported standalone net profit of Rs 25.17 crores, which was down 38.20 per cent when compared with Rs 40.73 crores in the same period a year ago.

Shoppers Stop’s net sales for 2015-16 increased by 11.90 per cent to Rs 3,413.20 crores compared with Rs 3,049.97 crores in the last fiscal. For the company FY16 has been an action-packed year. They cemented their omni-channel strategy through a slew of initiatives such as a partnership with e-commerce technology platform Hybris from SAP, refurbished shopping website and launch of a mobile app.

Earlier this week, Shoppers Stop acquired 500 equity shares of Rs 10 each at its face value, constituting 5 per cent of paid up share capital of Nuance Group Fashion & Luxury Duty Free. The shares were acquired from Nuance Group (India), a joint venture company. The company runs 94 stores of Shoppers Stop and HyperCity format and plans to add nine stores in FY2016-17 and cross the 100 mark this fiscal.