Shoppers Stop turnover up 23% at Rs.820.6 crore

Retail major Shoppers Stop Ltd (SSL), the operator of large format department stores, home stores and specialty stores like Crossword, Mothercare, M.A.C, and hypermarkets, has reported a gross retail turnover of Rs.820.6 crore for the quarter ended September 30th, 2013 as against Rs. 666.4 crores in Q2 FY' 13; up 23% while the Net Profit stood at Rs. Rs. 9.9 crores for the quarter ended September 30th, 2013. The brand doesn't seem to stop here as it further shows a double-digit like-to-like growth at 15.5% along with EBIDTA at Rs.39.8 crore, a growth of 37%.
 
With 61 stores across 30 cities in India, Shoppers Stop continues to grow and expand its retail footprint. This quarter, SSL added two new Shoppers Stop stores at Agra and Vadodara, two Clinique doors at Mumbai and Amritsar, two M.A.C doors at Bengaluru and Amritsar and one HyperCity store at Vadodara.  
 
Apart from driving ahead its successful Loyalty programme, SSL continued to expand its membership base adding more than 91,000 new members to the First Citizen Loyalty Programme in Q2 FY14. The programme now has a total First Citizen base of over 30.87 lakh members.  
 
Speaking on the financial performance, Govind Shrikhande - Customer Care Associate & Managing Director, Shoppers Stop Ltd. said, "We have seen a very impressive like-to-like growth of 15.5% in Q2FY14. With the onset of the festive season, marked by Durga Puja in the East, the upbeat momentum is expected to continue into the next quarter on account of festivities of Dussehra, Diwali and Christmas. SSL continues to expand its retail footprint across all store formats adding stores in existing and newer cities like Vadodara, Agra, etc.”