Shoppers Stop Ltd., one of India’s leading premier retailers of fashion and beauty brands, today declared their second quarter results for the quarter that ended September 30, 2022, for the fiscal year 2022-23.
- PBT Rs.32 Cr against a loss of Rs.44 Crs
- PAT of Rs 25 Crs against the loss of Rs. 43 Crs
- Debt Free with surplus cash of Rs 13 Cr
- Bollywood actor Sanya Malhotra endorsed Private Brand “Kashish”
- Foraying into Distribution of Leading International Beauty Brands with exclusive rights for India
Management Comments:
“The momentum from last year and the first quarter of this year continued,”
said Mr. Venu Nair, MD & CEO of Shoppers Stop, in response to the Q2 FY23 results.
Our solid second-quarter results reflect the successful implementation of our strategy. Footfalls, Average Selling Price, Average Transaction Value, and other KPIs continue to demonstrate positive customer sentiment.
Our ongoing improvements in Customer Experience, engagement, and data analytic skills give us a competitive advantage in staying ahead of the curve.
Our retail expansion strategy is on track, and we expect to open 12-15 outlets this year, with six opening in October and November.
We are delighted to inform you that we have discontinued the distribution of International Beauty Brands with exclusive rights in India.
This will allow us to introduce more brands to the country, bolstering our already strong presence in the beauty industry.
Continued robust performance from strategic pillars:
- First Citizen Loyalty Customers – Continued to demonstrate as a preferred brand of choice for their fashion and beauty needs. Our First Citizen Members contributed 77% of our offline sales with staggering 65% repeat sales.
- Private Labels – Private Labels continue to grow phenomenally by 76%. The Private Label contributed 21% of our Apparel Sales and 15% to the overall company sales.
- Beauty – Beauty category contributed 15% to the overall sales (up by 45% YoY). Twenty-four new brands have been launched in Q2FY23.
- Omni Channel – The e-commerce platform contributed Rs 64 Cr revenue (up 8% YoY). Over 25% of online sales were from customers buying from cities that do not have Shoppers Stop stores. This demonstrates the company’s brand recall and dominance.
We have published a detailed Non-GAAP and GAAP Income Statement. Our non-GAAP measures should not be viewed in isolation or as a replacement for equivalent GAAP measures.
They should only be viewed in conjunction with our GAAP-compliant consolidated financial statements.
About Shoppers Stop Limited:
