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Hypercity to be profitable in FY19′: Govind Shrikhande

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subsidiary departmental stores chain was aiming to be profitable by FY19′, a top company official said today.

Hypercity to be profitable in FY19': Govind Shrikhande
The departmental store company will consolidate and then it will decide on expansion of stores

“By the end of the current fiscal year there will be operating profit at the store and Ebita level, while at the company level we expects it to turn profitable in FY19′,” Shoppers Stop customer service associate and managing director told PTI.

According to a PTI report: The company has redesigned its 19 stores and the total space in HyperCity has been reduced from the previous 1.5 million square feet to 1.3 million square feet.

The departmental store company will consolidate and then it will decide on expansion of stores.

HyperCity is a 51 per cent subsidiary of Shoppers Stop and dealing primarily in foods and apparel, claiming to offer consumers world-class shopping experience with Omnichannel strategy that will be rolled out next fiscal.

HyperCity, has invested Rs 800 crore in this chain over the past 11 years in India.

Around 65 per cent of the business from HyperCity comes in from the food portfolio with garments accounting for 16-17 per cent. The rest comes in from other products.