For the second fiscal quarter ending September 30, 2014, net profit shot up 60%, while sales climbed 17%, both growths coming from a year ago periods, at Shoppers Stop Ltd (SSL).
SSL reported a gross retail turnover of Rs. 942.76 crore for the second quarter of 2014-15, up 17%, from Rs. 804.90 crore in the corresponding period last year.
Net profit for the reporting quarter zoomed 60% and stood at Rs. 15.90 crore, when compared with Rs 9.91 crore, it posted in the second quarter of 2013-14.
SSSL is one of India’s biggest retail groups and operates specialty stores like, Shoppers Stop, Crossword, Mothercare, M.A.C, HomeStop, HyperCity, etc.
SSL MD - Govind Shrikhande said, “The first half of the fiscal has been in line with our expectations, buoyed by a revival in overall economic sentiment.”
He added, “We have registered a strong like-to-like growth of 11% in the second quarter, owing to the end of season sale and the festive season.”
In the quarter under review, SSL added three new Shoppers Stop stores, ten Crossword stores and one Homestop outlet.
SSL said it continued to expand its membership base by adding 107,931 new members to the First Citizen Loyalty Programme in the quarter, which now has over 3.51 million members.
During the quarter, Shoppers Stop was awarded the ‘Best Employer Brand’ at the 5th Asia Best Employer Brand Awards ceremony held at Singapore.
It was also honored with the ‘Best Supply Chain Company in Retail vertical’ at the 8th Express Logistics & Supply Chain Conclave.
The retailer group also won the Tata Institute of Social Science (TISS) ‘LEAP VAULT CLO Awards – L & D Team’ of the year award on October 9, 2014.
SSL operates 15 HyperCity stores, 72 Shoppers Stop outlets, 19 HomeStop doors, 42 Mothercare stores, 95 Crossword outlets, 36 M.A.C doors, 25 Clinique stores, 9 Estee Lauder outlets and 2 Bobbi Brown stores.
SSL also operates 2 airport duty free stores, one each at Bengaluru and Mumbai and 22 doors of TimeZone Entertainment.
Shoppers Stop Ltd., a pioneer in modern retailing in India, operates more than 5.65 million square feet of store space across all its formats. (AR)
