Shoppers Stop posts 15. 3% drop in Q3 net profit at Rs 19 crore
The country’s largest lifestyle retail chain’s same-store sales, or sales excluding newly opened stores, increased 6.4% year-on-year on a consolidated basis.
By ET Bureau | Updated:
Shoppers Stop posted a 15. 3% decline in net profit at Rs 19 crore for the quarter ended December. The company had posted a net profit of Rs 22.45 crore during the same period last year.
Net sales were up by 13.56% at Rs 996.45 crore.
The country’s largest lifestyle retail chain’s same-store sales, or sales excluding newly opened stores, increased 6.4% year-on-year on a consolidated basis.
"Q3 started on a good note with Diwali festivities giving a boost to festive shopping. Post demonetisation, November sales had turned week but December saw an upswing in sales resulting in double-digit growth for the month and overall 11.8% growth for the quarter,” said Govind Shrikhande, Managing Director, Shoppers Stop.
Store EBIDTA for the quarter was Rs 68.40 crore.
Salil Nair has resigned as the chief executive officer of Shoppers Stop, the company said in the BSE filing.
Net sales were up by 13.56% at Rs 996.45 crore.
The country’s largest lifestyle retail chain’s same-store sales, or sales excluding newly opened stores, increased 6.4% year-on-year on a consolidated basis.
"Q3 started on a good note with Diwali festivities giving a boost to festive shopping. Post demonetisation, November sales had turned week but December saw an upswing in sales resulting in double-digit growth for the month and overall 11.8% growth for the quarter,” said Govind Shrikhande, Managing Director, Shoppers Stop.
Store EBIDTA for the quarter was Rs 68.40 crore.
Salil Nair has resigned as the chief executive officer of Shoppers Stop, the company said in the BSE filing.
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