Indian fashion retailer, Shoppers Stop has recently recorded a standalone net profit of Rs. 20.78 crore in the fourth quarter as compared to a net loss of Rs. 36.06 crore in the same quarter in 2017. The retailer on seeing the growth of the company, witness a positive growth due to focusing on the department store business and omni-channel strategy by exiting non-core business.
Shoppers Stop also informed a 7.12 per cent decrease in its total income from Rs. 916.05 crores in the same period a year ago to Rs. 850.82 crores in the current fiscal. There is also a decline of 7.54 per cent in total expenses to Rs. 828.15 crores as compared to Rs. 895.70 crores in the same period last year.
Net profit for the full-fiscal under review stood at Rs. 11.60 crores as against net loss of Rs. 19.93 crores in the previous fiscal. Further, the retailer reported a 1.90 per cent decline in the total income from Rs. 3,677.61 crores in fiscal 2016-17 to Rs. 3,607.50 crores in the recently concluded fiscal.
K Raheja Corp. Group promoting Shoppers Stop is targeting to note 10 per cent of its sales from the online channel in the upcoming three years. The group is betting big on its omni-channel system.
– Apparel and Textile News, Apparel Talk, Indian Apparel
