Shoppers Stop Posts 3.39% Sales Growth
Large format department stores Shoppers Stop Ltd (SSL) reported a gross retail turnover growth of 3.39 per cent year over year in the third fiscal quarter ended September 30, 2015.
“SSL posted a gross retail turnover of Rs 975 crore for the three months to September 30, 2015 period as against Rs 943 crore in the corresponding quarter last fiscal,” a company release stated.
SSL which operates home stores, specialty stores like Shoppers Stop, Crossword, Mothercare, M.A.C, and Hypermarkets said its net profit for the reporting quarter stood at Rs 12.8 crore.
The company said with 74 stores across 36 cities in India, the Shoppers Stop format continues to grow and expand its retail footprint. This quarter, SSL added three Shoppers Stop stores at Kolkata, Kolhapur and Meerut and four Crossword stores in Trivandrum, Calicut, Kochi and Bangalore each.
Driving ahead its successful loyalty programme, SSL continued to expand its membership base adding 82,354 new members to the programme in the reporting quarter and which now stands at 39.24 lakh members.
Managing director Govind Shrikhande said, “We have seen a steady growth over the first half of this fiscal and our like-to-like growth at 5.3 per cent is a good sign and additionally, we are well poised for a strong festive season.”
Meanwhile company’s department store chain Shoppers Stop Ltd has reported a 19.24 per cent fall in net profit for the quarter to September.
The K Raheja Corp-promoted company has said net profit fell to Rs 12.84 crore from Rs 15.90 crore in the year-ago quarter.
“We have seen a steady growth over the first half of this fiscal. Our like-to-like growth at 5.3 per cent is a good sign and we are well poised for a strong festive season,” Govind Shrikhande, managing director at Shoppers Stop said.