Shoppers Stop Q2 Results: The company on muted demand posted Rs. 20.6 crores net loss

Retail chain Shoppers Stop on Tuesday posted a Rs. 20.59 crore reported a consolidated net loss. According to a regulatory filing from Shoppers Stop, the company in the July-September period a year ago posted Rs. 2.73 crore net profit was reported.

However, during the quarter under review, its total revenue increased by 7.13 percent to Rs. 1,124.62 crores. A year ago it was Rs. 1,049.70 crores.

The company’s total expenditure in the September quarter was Rs. 1,151.31 crores.

During the July-September quarter, it has added 25 stores, 19 INTUNE, 1 department and 5 Homestop stores.

“Demand was dampened in July and August due to fewer wedding dates, extended rains and overall weaker discretionary spending,” said Kavindra Mishra, executive director and CEO, Shoppers Stop.

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Shoppers Stop operates 112 department stores.

Besides, the Raheja family-promoted retail firm also operates 11 premium home concept stores, 87 specialty beauty stores of MAC, Estee Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SS Beauty, 50 Intune stores and 20 airport gateways. .

Shares of Shoppers Stop on BSE fell 2.32 percent to Rs. settled at 712.05.

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