Shoppers Stop’s Net Loss Falls Sharply
Multi format retailer Shoppers Stop’s standalone net loss fell sharply by 37.33 per cent from a fiscal ago period in the three months ended June 30, 2016.
In a BSE filing, the company said its standalone net loss for the first quarter of fiscal 2016-17 dipped to Rs 13.56 crore as against Rs 21.64 crore for the same period of the previous fiscal.
For the reporting quarter, income from operations grew 10.64 per cent to Rs 772.18 crore compared to Rs 697.89 crore of the prior fiscal’s first quarter.
Shoppers Stop managing director Govind Shrikhande said, “We have seen good progress on two fronts. A growth of more than 25 per cent in our online business and share of private and exclusive brand going up 60 bps.”
Apart from Shoppers Stop, the company operates other formats like Hypercity, Crossword, Mothercare, Estee Lauder, Clinique, Bobbi Brown and M.A.C.