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Shoppers Stop Records Net Profit of Rs 17.3 Crore in Q3 FY 14

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Shoppers Stop Ltd (SSL), an Indian retail group (operator of large format department stores, home stores, specialty stores like Crossword, Mothercare, M.A.C, and hypermarkets) has reported a gross retail turnover of Rs 787.5 crore for the quarter ended December 31, 2013 as against Rs 677.7 crore in the corresponding period last year; up by 16 percent. Net Profit stood at Rs 17.3 crore for the quarter ended December 31, 2013.

The retailer has 65 stores across 32 cities in India. SSL added 4 new Shoppers Stop stores in Raipur, Hyderabad, Chennai and at Jaipur International Airport, 1 HyperCity store in Hyderabad, 2 M.A.C doors in Surat and Kolkata, 2 Clinique doors in Surat and Kolkata, 3 HomeStop stores, 2 in Bangalore and 1 in Hyderabad; and 3 Crossword stores in Jaipur, Pune, and Cochin during the quarter.
Speaking on the financial performance, Govind Shrikhande, Customer Care Associate and Managing Director, Shoppers Stop, said: “Q3 is the peak festive shopping quarter for retailers with the festive season starting in October and continuing all the way till Christmas and New Year celebrations in December. We have witnessed a healthy Sales and EBIDTA growth of 16 percent during this quarter. Our focus remains on expansion in the department store category and achieving profitability in HyperCity. We are also looking at higher visibility from our Social Media initiatives. Our Facebook Fan club has crossed over 5.1 million fans and our loyalty franchise ‘First Citizen Programme’ continues to grow its member base while contributing significantly to the top-line.”
Shoppers Stop, promoted by K Raheja Corp. Group (Chandru L. Raheja Group), operates more than 54.36 lakh sq.ft. in the country.
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