Shoppers Stop posts sales of Rs 1300 cr in Q3FY20

During this fiscal, the company has made large investments in Digital and Information Technology Transformation for Rs 30 Cr.
Shoppers Stop

Shoppers Stop Ltd has reported sales of Rs 1300 Crs and EBITDA of Rs 102 Crs in the quarter (Non-GAAP). GAAP adjusted, the turnover is Rs 994 Crs and EBITDA of Rs 204 Crs.

Overall Performance

Commenting on the quarterly performance of the company, Rajiv Suri, Customer Care Associate, Managing Director & Chief Executive Officer, Shoppers Stop Ltd, said, “In a challenging economic environment we found opportunities to seed future growth for the company by aggressive expansion through internal accruals. During the year, we opened 28 stores (8 Department and 20 Beauty) and plan to open 23 Stores (4 Department, 11 Beauty and 8 Airport stores) in Q4. This expansion will add circa Rs 500 Crs top-line on an annualized basis, more importantly, these stores have been EBITDA accretive within the first quarter of operation.”

During this fiscal, the company has made large investments in Digital and Information Technology Transformation for Rs 30 Crs. These investments will enable us to sharpen our analytic capabilities that will improve overall customer experience and personalization besides supporting our growth.

Shoppers Stop posts sales of Rs 1300 cr in Q3FY20

For the Quarter

Against a strong base of Q3 FY19 and a subdued retail landscape with a dampened festive season, the Revenue growth was muted LTL (-1%). Nonetheless, the company proactively increased its productivity and efficiencies by keeping the costs in control (LTL costs lower than last year).

The company has added 15 stores during the quarter of which 6 are department stores and 9 beauty doors taking the total footprint to 89 Department stores and 135 Beauty doors across 42 cities in India as of December, 31st 2019. Our First Citizen Loyalty program contributed 84% of Revenue.

The Beauty segment grew 9.6% and we are confident that this growth will sustain in the forthcoming quarters on the back of new beauty stores, upgrading the beauty experience in existing stores, the launch of new brands and strong Omnichannel support. The company launched 4 new brands in beauty. Our one-of-its-kind Personal Shopper program grew by 5%.

Shoppers Stop posts sales of Rs 1300 cr in Q3FY20

Financial Performance

Rs. In Crs.

Non-GAAP

GAAP

Revenue from Operations

1299.5

+3.1% YOY

994.0

(0.5%)YOY

EBITDA

102.2

+1.7% YOY

204.1

+104% YOY

First Citizens

6.8M    290K added in the quarter.

Stores added

Shoppers Stop 6, MAC 9

Total Retail Area

4.5M Sq. ft.

The Ministry of Corporate Affairs (MCA) has mandated Accounting Standard AS 116 for accounting the Lease Contracts. A detailed working has been included in our Quarterly Performance presentation uploaded on our corporate website.

We have published a detailed Non-GAAP and GAAP Income Statement. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read-only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Primary Category
 
 
 
 
TRENDING ARTICLE
RECOMMENDED FOR YOU