Shoppers Stop turnover up 20 per cent

Shoppers Stop has reported a gross retail turnover of Rs 422.9

crores for the quarter ended March 31, 2010, as compared to Rs 352.7 crores in Q4 FY 09, registering a jump of 20 per cent. While the net profit for the quarter stood at Rs 16.4 crores, up 197 per cent compared to the same period last year. The gross retail turnover for the year ended March, 31, 2010, stood at Rs 1,570crores, compared to Rs 1,402.8 crores last year, up 12 per cent.

The company continues to expand its footprint across the country with multiple store launches under various formats. During the quarter Shoppers Stop entered Punjab by launching a store in Amritsar, added two MAC stores, one each in Mumbai and Hyderabad; three new outlets of Crossword, two at Bangalore, and one at Amritsar. The retailer also saw an increase in its First Citizen club membership, adding more than 3.3 lakh members to its loyalty program taking the total to more than 16,11,500 members.

Shoppers Stop is India’s prominent retail group and operator of large format department stores, home stores, and specialty stores like Crossword, Mothercare, MAC, and hypermarkets.