Shoppers Stop to open six more stores in one year

Shoppers Stop plans to open six Shoppers Stop stores in the next year and two Hypercity stores every year. It has seen a good third quarter and now expects a high double digit growth in the second half of the fiscal. According to Govind Shrikhande, MD, Shoppers Stop, the net profit will be better in second half of the fiscal and he is confident that the company will achieve 7-7.5 percent EBITDA margins and a 15 percent growth in revenue.

The company has seen fantastic growth across India, particularly in East followed by West, North and South. In the material category, it was denim that has grown phenomenally. Also, women’s wear has continued to grow all across India. The other categories doing well are kids and beauty.

In the last financial quarter, seven stores were opened. Now, the company is targeting to add two stores every year in the department store format. The expansion plan across India will continue. Q3, Shrikhande says, looks good. He believes that they will hit 8 per cent in 2017 and are on target for that, ‘we should be able to perform on even bottomline numbers much higher than what we saw in Q1 and Q2’.