Shoppers Stop turnover at Rs 174 million

Shoppers Stop (SSL) posted a gross retail turnover of Rs 5.08

billion for the quarter that ended on September 30, 2010, registering a jump of 23 per cent from the second quarter of 2010. SSL’s net profit for the quarter stood at Rs 174 million against Rs 121 million, which is up by 44 per cent compared to the same period last year. As the customer care associate and MD Govind Shrikhande says, “We have seen an exceptional earnings quarter with the uptick in the economy boosting customer purchasing power. The surge in consumer confidence has given us an added impetus resulting in double digit growth in same store sales. On the other hand, our First Citizen members’ contribution to topline has increased to 73 per cent. All these factors combined have accelerated our growth. Expansions have been on track and we will continue to open stores across the country in near future. Hypercity opened its 8th store in Bhopal.”

Shoppers Stop is one of the leading retail stores in India. It began by operating a chain of department stores under the name Shoppers Stop across the country. Shoppers Stop has 35 stores across the country and three stores under the name HomeStop. It also operates a number of speciality stores, namely Crossword Bookstores, Mothercare, Brio, Desi Café and Arcelia. Shoppers Stop launched its e-store with delivery across major cities in India in 2008. The website retails all the products available at Shoppers Stop stores, including apparel, cosmetics and accessories.