Shoppers Stop Revenue Grows 17.1%

Shoppers Stop Revenue Grows 17.1%

Revenue for the three months to December 31, 2015 at Shoppers Stop Ltd (SSL) grew 17.19 per cent to Rs 990.1 crore as against Rs 844.8 crore in the corresponding period last fiscal.

In the reporting quarter, SSL added two stores in Jaipur and New Delhi, one Hypercity store in Noida, one MAC store at Hyderabad, one Mothercare store in Jaipur and one Crossword store in Gurgaon.

Driving ahead its successful loyalty programme, SSL said that it continued to expand its membership base adding 117,670 new members to its First Citizen Loyalty programme in the quarter.

Managing director, Govind Shrikhande said, “The third quarter is a peak festive shopping quarter and with Durga Puja moving to October this year, it has been a block buster quarter.”

“The department stores format witnessed a double digit growth of 18.2 per cent and a strong like-to-like growth of 17.4 per cent in the period under review.”

He further added, “In line with our omni-channel strategy, we launched our refreshed website with marked improvements in usability and navigability, while a mobile app will be launched in February.”

During the quarter, SSL was awarded ‘The Most Respected Company in Retail’ by Business World Magazine for the fifth year in a row.

The company was also awarded the first and second prize of the ‘National Energy Conservation Award’ under the category Shopping Malls conducted by union ministry of power.

As on December 31, 2015, SSL operated 17 Hypercity stores, 76 Shoppers Stop outlets, 19 stores of Homestop in, 42 stores of Mothercare, 93 stores of Crossword and 36 outlets of M.A.C.