Shopper Stop reports quarterly sales of Rs 1034 Cr & EBITDA of Rs.146 Cr

Jammu Tawi: Shoppers Stop Ltd. a leading department store with premium fashion and beauty brands, has declared its results for the quarter ended 30th June 2024.Commenting on the Q1FY25 results, Mr. Kavindra Mishra, Managing Director and CEO, Shoppers Stop Ltd, said, “The industry witnessed subdued consumption due to prolonged heat wave, elections, fewer weddings and inflation. The sales for the quarter stood at Rs 1034 Cr + 5% and EBITDA at Rs.146 Cr. This has impacted our Profits, however, we have strong recovery plan.Some of our recovery plan include our continuous focus on premiumization, Investment in Marketing to improve Customer Entry, elevating our Customer experience through High End Coffee Shops in several stores, Increase in Personal Shoppers, particularly during our festive season, etc. We are also planning to close a few unviable stores and rationalize costs during the year.During the quarter, specifically on our Strategic Pillars, our Loyalty Membership increased to 10Mn+ First Citizen customers. On private brand portfolio, we aim to provide aspirational fashion at affordable prices. Further we aim to drive higher growth in beauty through engagement, expression and education and expanding distribution portfolio.On other KPI’s our Items Per Transaction (IPT) increase +2%, Average Transaction Value (ATV) +5% and Average Selling Price (ASP) +3%.”