January 19, 2024Anmol Nagpal

Shoppers Stop's net profit declines in Q3

Retailer Shoppers Stop incurred a 41 per cent fall in profits at Rs 37 crore in the December quarter (Q3FY24).

Source: X Photo

The retail chain incurred Rs 62.7 crore in the previous quarter of the same fiscal (Q2FY24).

Source: Facebook Photo

However, the revenue surged over 19 per cent from Rs 1039 crore (Q2) to Rs 1237.5 crore (Q3).

Source: Facebook Photo

Shares for the company settled 1.62 per cent higher at Rs 701.50 per share, before the results were announced on Thursday.

Source: Facebook Photo

The highest share of the retail apparel brand came from their First Citizen loyalty program which contributed 78 per cent to overall sales.

Source: Facebook Photo

Private brand sales were second at 13 per cent, contributing 189 crores to sales.

Source: X Photo

Company's beauty segment outperformed by 10 per cent with sales of Rs 262 crores.

Source: X Photo

The Raheja Corp-owned departmental store chain saw customer engagement with 2.66 lakh makeovers, it added.

Source: Shoppers Stop

Shoppers Stop also said it opened 13 stores in the December quarter, with four each in department, beauty and intune divisions and one in airport.

Source: Shoppers Stop

The company has 233 stores as of December 31 2023, with over 800 brands and a presence in 56 cities in the country.

Source: Facebook Photo