Hyderabad, October 20, 2022: Shoppers Stop Ltd. one of India’s leading premier retailers of fashion and beauty brands, today have declared their second quarter results for the quarter that ended September 30, 2022, for the fiscal year 2022-23.
Financial Performance:
| Rs in Cr. | Non GAAP | GAAP | ||||
| Q2FY23 | Q2FY22 | Growth% | Q2FY23 | Q2FY22 | Growth% | |
| Sales | 1270 | 785 | 62% | 1008 | 632 | 60% |
| Gross Margin | 416 | 243 | 71% | 415 | 241 | 72% |
| EBITDA | 75 | 1 | 6762% | 176 | 138 | 27% |
| PBT | 34 | -44 | 31 | -4 | ||
| ESOP | 4 | |||||
| Crossword/One off | 2 | 3 | ||||
| PBT(adj.) | 32 | -44 | 24 | -4 | ||
| PAT | 25 | -43 | 18 | -3 | ||
Management Comments:
Mr. Venu Nair, MD & CEO at Shoppers Stop, commented on the Q2 FY23 results, “The momentum from last year and first quarter of this year continued. Our strong second quarterly numbers reflect the adopted strategy delivering our results. Customer sentiments remain upbeat, which is reflecting in Footfalls, Average Selling Price, Average Transaction Value and other KPI’s. Our continued improvement in Customer Experience, engagement and improved data analytic capabilities are providing us the competitive edge to remain ahead of the curve.
Our Store expansion plan is on track and we should open 12-15 stores during the year, with 6 stores to be opened in October and November.
We are extremely happy to inform you that we have forayed distributing International Beauty Brands with exclusive rights in India. This will enable us to bring newer brands in the Country, further enhancing our strong presence in Beauty.
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 continues 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 by 8% YoY). Over 25% of online sales was from customer buying from cities which does not have Shoppers Stop stores. This clearly demonstrates the company’s brand recall and dominance.
