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Shoppers Stop Results: Latest Quarterly Results & Analysis

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Shoppers Stop Ltd. 17 Jul 2025 19:27 PM
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Q1FY26 Quarterly Result Announced for Shoppers Stop Ltd.

Department Stores company Shoppers Stop announced Q1FY26 results

  • Sales: Rs 1,336 crore compared to Rs 1,260 crore during Q1FY25, change 6%.
  • Gross Margin: 37.6% for Q1FY26.
  • EBITDA: Rs 26 crore compared to Rs 15 crore during Q1FY25, change 68%.
  • PBT: Rs -13 crore compared to Rs -24 crore during Q1FY25.
  • PAT: Rs -7 crore compared to Rs -15 crore during Q1FY25.

Kavindra Mishra, MD and CEO, Shoppers Stop, said: “We have delivered an impressive performance delivering sales of Rs. 1,336 Cr registering 6% growth and 5% LFL growth in department stores, driven by premiumisation. On our operational performance, EBITDA has improved by 68% (Under Non-GAAP) implying operational efficiency. Consumers are becoming more discerning and are willing to spend more. In a crowded marketplace, premiumisation allows retailers to stand out. As a leader in premium category products, our initiatives led our premium portfolio contribution to grow to 67% with an 8% YoY growth and LFL growth of 9%.

We are glad to inform all our KPIs are showing consistent improvement. Our First Citizen loyalty program continues to remain a key driver of our success, contributing 85% of sales supported by increasing repeat engagement and new customer additions. Private brand sales at Rs. 156 Cr with a volume growth of 18% in apparels, improved contribution and overall profitability. On the other key verticals, Beauty delivered Rs. 219 crore with a growth of 2%. INTUNE our emerging growth driver had a sale worth Rs. 68 crore delivering 2X, despite muted market conditions for value fashion.

We believe our work and strategies on premiumisation will continue to have better results soon, and besides to focus on offering higher-quality products.

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Department Stores company Shoppers Stop announced Q4FY25 results

Financial Highlights:

  • Sales: Rs 1,284 crore compared to Rs 1,232 crore during Q4FY24, change 4%.
  • Gross Margin: 38.8% for Q4FY25.
  • EBITDA: Rs 38 crore compared to Rs 37 crore during Q4FY24, change 2%.
  • PBT: Rs 1 crore compared to Rs 5 crore during Q4FY24, change -72%.
  • PAT: Rs 9 crore compared to Rs 4 crore during Q4FY24, change 119%.

Business Highlights:

  • Consistent improvement in Operational KPI’s ATV 8%, ASP 4% and IPT 4%.
  • Premiumization on track, contribution increases to @ 65%, 7% YoY.
  • First Citizen contributed 82% 390 bps with Repeat sales 69%; 12.3M Members as on date.
  • Profitability for Private brands improved, aided by higher productivity and Intake margin.
  • Added 21 Stores during the quarter: 5 Department, 15 INTUNE, and 1 Beauty.
  • New Business:
    • INTUNE reported 54 crore Sales in Q4 (3x YoY) and recorded Annual Sales of Rs.192 crore (5x YoY).
    • INTUNE opened 15 Stores in Q4, 52 for full year.
    • Global SS Beauty reported 67 crore Sales in Q4 ( 61 %) and recorded Annual Sales of Rs.236 crore (2x YoY).
  • Capex investments of Rs 52 crore for Q4 and Rs 192 crore for the year.

Kavindra Mishra, MD & CEO, Shoppers Stop, said: “Shoppers Stop delivered consistent performance despite continued softness in demand and a challenging macro environment. We achieved 4% revenue growth with 3% Like-for-Like growth (Non-GAAP), marking the second consecutive quarter of LFL growth. Our two campaigns “India Weds with Shoppers Stop” a comprehensive wedding shopping experience, offering a wide array of wedding-related products and services and “Gifts of Love” an initiative featuring a range of products designed to be given as gifts, celebrating love in various forms are successful.

Our strategy of premiumization continues to yield strong results, with premium brands contributing 65% of total sales, 7% YoY. This emphasizes our position as a destination of choice for modern Indian consumers seeking aspirational and world-class experiences. Our First Citizen loyalty program continues to be a cornerstone of our success, driving 82% of sales with growing repeat engagement.

Despite the gradual demand recovery, we are optimistic due to structural changes like premiumization, customer engagement campaigns, and India's rising affluence and evolving consumer aspirations. We will continue to build strong momentum in premiumization, Beauty and value fashion INTUNE and focus on experiential retail, digital personalization, expansion to drive sustainable growth in FY26 and beyond."

Result PDF

Department Stores company Shoppers Stop announced Q3FY25 results

Financial Highlights:

  • Sales: Rs 1,311 crore compared to Rs 1,207 crore during Q3FY24, change 9%.
  • Gross Margin: 40.7% for Q3FY25.
  • EBITDA: Rs 262 crore compared to Rs 219 crore during Q3FY24, change 20%.
  • PBT: Rs 68 crore compared to Rs 49 crore during Q3FY24, change 37%.
  • PAT: Rs 49 crore compared to Rs 35 crore during Q3FY24, change 37%.

Other Highlights:

  • Consistent improvement in Operational KPI’s ATV 6%, ASP 4% and IPT 2%.
  • Premium categories contribution continues to improve @ 64%, 9% YoY and 5% Like for Like.
  • First Citizen contributed 83%, 411bps with Repeat sales 69%, 267bps with 11.5M Members.
  • Added 16 Stores during the quarter; 1 Department, 9 INTUNE, and 6 Beauty.
  • Value Fashion INTUNE reported Rs.63 crore Sales has 59 stores across 25 cities.
  • Capex investments of Rs 53 crore for Q3FY25 and Rs 141 crore YTD.

Kavindra Mishra, MD and CEO of Shoppers Stop, said: “We ended Q3FY25 with a fairly positive note and the growth trajectory of the business heading in the right direction. We have delivered healthy volume-led revenue growth of 9% and LFL growth of 4%, despite higher inflation and decline in consumer spending. We had taken number of initiatives during the quarter such as “India Weds with Shoppers Stop”, “Gifts of Love”, “Winter Magic Campaign” and “ShowStoppers”, “Singles Day” in Beauty, etc. These initiatives led to increase in premiumization, and our premium categories contributed 64% of our total revenue. We have improved every KPI’s during the quarter. Our strategic focus is to make Private Brands profitable. I am extremely pleased to say that Private Brands generated healthy margin growth, driven by lower markdown and obsolescence. The Beauty category continues to grow, Sales grew 3%, led by a Fragrance 14%. Our flagship store at Inorbit Malad, Mumbai, has been fully renovated and is now operational, featuring premium product offerings and enhanced customer experiences.

Result PDF

Department Stores company Shoppers Stop announced Q2FY25 results

  • Q2FY25 Sales of Rs 1,068 crore 4% YoY, EBITDA Rs 157 crore.
  • H1FY25 Sales of Rs 2,102 crore 5% YoY, EBITDA Rs 302 crore (GAAP).
  • Beauty outperformed 10%, led by Fragrance 17% contribution to total sales 17%.
  • Expansion on Track; 25 New Stores, 19 INTUNE, 1 Department and 5 HomeStop Stores; INTUNE reaches Milestone of 50 Stores on October 1, 2024.
  • First Citizen Club 10.9 million contributing 81% with repeat Sales 67%.
  • Personal Shoppers 9%, Total strength 434.
  • Premium categories contribution continues to improve, YoY 64% Vs 60%.
  • Capex Investments @ Rs 43 crore.

Kavindra Mishra, MD and CEO of Shoppers Stop, said: “Despite a challenging external environment, we remained resilient in our pursuit to deliver growth. Shoppers Stop delivered notable financial results though the demand was muted in July and August, impacted by fewer wedding dates, extended rains, and overall weak discretionary spending. We kept a relentless focus on investing behind our Premium Category, with increased offerings in Premium Category this quarter. We renovated and made our Malad Store (in Mumbai) as a destination for Premium offerings.

Sales for the quarter were at Rs 1,068 crore, 4% with EBITDA at Rs 157 crore (GAAP). We had the first green shoot in September, with sales increasing by 12% (LTL 9%). The contribution from Premium Category increased by 4%, with an overall mix of 64% vs 60% a year ago. The Beauty category continue to outperform, Sales grew 10%, led by a fragrance 17%

In other KPIs, Items Per Transaction (IPT) increased by 2%, Average Transaction Value (ATV) rose by 9%, and Average Selling Price (ASP) grew by 7%.

Additionally,the Value Fashion Format “INTUNE” celebrated its 50th store opening during the quarter.

Result PDF

Departement Stores company Shoppers Stop announced Q1FY25 results:

  • Sales of Rs 1,034 crore, up  5% YoY
  • Beauty outperformed 5%, led by Fragrance 19%, overall mix 17%
  • Strategically continue to expand 2 Department, and 9 INTUNE stores
  • INTUNE reported Rs 35 crore sales in Q1; Store EBITDA positive
  • First Citizen’s club crossed 10 Mn memberships mark
  • Personal Shoppers contribution improved 5%, 140 New personal shoppers added
  • Premium Brands contribution on rise YoY, 57% Vs 54% resulting into ATV increase by 5%
  • Capex Investments of Rs 45 crore in Q1FY25

Commenting on the Q1FY25 results, Kavindra Mishra, Managing Director and CEO, Shoppers Stop, said, “The industry witnessed subdued consumption due to prolonged heat wave, elections, fewer weddings and inflation. The sales for the quarter stood at Rs 1,034 crore 5% and EBITDA at Rs 146 crore. 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%."

Result PDF

Department Stores company Shoppers Stop announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Q4 Revenue: Rs 1,000 crore, up by 9% YoY
  • Q4 EBITDA: Rs 199 crore, an increase of 11% YoY

FY24 Financial Highlights:

  • Annual Revenue: Rs 4,213 crore, a 5% growth
  • Annual EBITDA: Rs 767 crore, which is a 2% rise compared to the previous year

Operational Performance Indicators:
- Beauty Category: Sales of Rs 218 crore, a 7% increase, with Fragrances leading at 24% growth.
- Average Transaction Value (ATV): Increased by 8%
- Capital Expenditure: Rs 84 crore in Q4, totaling Rs 246 crore for the year
- Department Stores: 7 new stores in Q4, a total of 15 in FY24, culminating in 112 Departmental Stores by end of FY24
- Beauty Stores: Largest Premium Beauty store opened (9,000 sq. ft.) at Quest Mall, Kolkata; 3 new stores in Q4 for a total of 16, reaching 87 Beauty Stores by end of FY24
- INTUNE Stores: 12 stores opened during Q4 with a total of 22 new stores in FY24

Commenting on the Q4FY24 results, Kavindra Mishra, Managing Director & CEO, Shoppers Stop said, “Shopper Stop delivered consistent performance despite continued softness in demand. We remain focused on driving operational excellence and our long-term goal is to increase the overall margins. I am happy to say that we have made concerted efforts to further improve and sustain our excellence in customer journey, which is evident with our Loyal Customers contributing 78% of our total sales. With rising affluence, our focus on premiumization continues to drive ATV by 8%. Beauty category sustained the Strong Momentum in Q4. We launched largest beauty store in the country at Quest mall, Kolkata.

During the quarter the sales grew by 9% and EBITDA at Rs.199 crore. Our EBITDA was impacted by onetime investments in Beauty and write off of inventory aggregating to Rs.14 crore during the quarter. In this quarter, we opened 7 Department, 3 Beauty and 12 Intune stores. Our investments in opening new stores continues and we have opened 55 stores, including our “New Business” Intune wherein we opened 22 stores during FY24.

I am confident of the medium to long-term potential of Retail Growth, with key thrust on “Growing our Core” through impeccable customer journey, Premiumization and have our portfolio to high growth spaces.

Result PDF

Department Stores company Shoppers Stop announced Q3FY24 results:

Financial Highlights:
- Sales: Generated quarterly sales of Rs 1,207 crore, marking an increase of 7% YoY.
- Gross Margin: Gross Margin stood at 39.7% in Q3FY24.
- EBITDA (GAAP): EBITDA reached Rs 219 crore.
- Non-GAAP Results: Compared to Q3FY23, the company demonstrated a Sales growth of 4% to Rs 1,484 crore.

Performance by Segment:
- Beauty Segment: Showed a strong performance with a 10% growth, led by Fragrance at 41% and Makeup at 6%. The beauty segment contributed 18% to the overall sales mix.
- Private Brands: Achieved Rs 189 crore in sales with a 13% overall sales contribution and 19% contribution to apparel sales. Women's Indian Wear within this segment saw a 7% increase.
- Intune Stores: Added 4 new stores during the quarter with a full price sell-through of 65% and a kidswear mix at 27%.

Store Expansion:
- Added 13 new stores including 4 Department, 4 Beauty, 4 Intune, and 1 Airport store.
- Invested Rs 51 crore for expansion during the quarter with a total year-to-date capex of Rs 162 crore.

Loyalty Program and Customer Engagement:
- First Citizen Members: Contributed 78% to overall sales with 65% repeat and 13% new members. Premium Black Card members contributed 13% to the overall sales, up by 18% YoY.
- Customer Events: Held 118 customer events across all stores for an enhanced shopping experience.

Beauty Distribution:
- Sales: The beauty distribution business recorded Rs 39 crore in sales with the distribution network expanded to over 334 doors.

Balance Sheet:
- The company remains debt-free with a net cash surplus of Rs 40 crore.

Commenting on the Q3FY24 results, Kavindra Mishra, Executive Director and CEO, Shoppers Stop, said, “With considerable slowdown on the discretionary spending, we have demonstrated notable resilience in these tough conditions. Our Company has delivered admirable financial results with a Sales growth of 7% despite muted consumer demand. And during the festive period, the sales grew by 9% (LTL 5%). Average Transaction value grew by 6% driven by premiumization and Items per Ticket grew by 5%. Some of the outliers for Q3 are, that our external Brands both apparel and non-apparel have grown above average, with better yields on our KPIs. Our Home Stop has turned around and had an impressive growth of 10%, with a sale of Rs 42 crore. We reported a GAAP EBITDA of Rs 219 crore vs Rs 240 crore in FY23. Our EBITDA has been lower due to a one-time Income of Rs 17 crore as other Income in FY23 and we have made provision for obsolescence of circa Rs 9 crore during the quarter.

We have observed that despite the overall muted market conditions our customers have upped their spending on the differentiated mix of premium brands and experiences across various categories wherein SSL is a destination”.

Result PDF

Department Stores company Shoppers Stop announced Q2FY24 results:

1. Sales Performance:
- Shoppers Stop reported revenue of Rs 1,025 crore in Q2FY24, a 2% growth compared to the previous year.
- The company's sales were flat at Rs 1,271 crore in Q2FY24, due to the combination of shifting of Pujo and softer demand.
- Sales in the beauty category outperformed with a 6% growth, led by fragrance with a 20% increase.

2. Strategic Pillars:
- First Citizen loyalty program: First Citizen members contributed 77% of overall sales, with 64% being repeat members and 13% new enrollments.
- Private Brands: Private brand sales reached Rs 184 crore, with a contribution of 14% to total sales. The Indianwear segment showed strong growth of 38%.
- Beauty: Beauty sales amounted to Rs 197 crore, contributing 16% to overall sales. The category saw strong engagement with 240k makeovers and a 56% conversion rate.
- Intune: The value fashion store, Intune, opened 4 stores during the quarter and generated sales of Rs 8 crore. Initial customer feedback has been positive.

3. Financials:
- EBITDA for Q2FY24 was at Rs 170 crore, compared to Rs 175 crore in Q2FY23.
- Gross margin was at 40.7%, slightly down from the previous year's 41.2%.
- Net profit was impacted by muted demand in apparel, resulting in a PAT of Rs 2 crore.

Kavindra Mishra, Executive Director and CEO, Shoppers Stop, stated, "Shoppers Stop reported impressive financial results, despite challenging market conditions and shifting of Pujo from Q2 to Q3 this fiscal. We have witnessed a strong pick-up in the Beauty businesses and consistent performance from non-apparels. The premiumization has been sustained across categories resulting in 5% growth in Average Selling Price (ASP) and 1% growth in Items per Ticket (IPT) compared to the corresponding quarter of FY23. Net profits for the quarter were affected due to muted demand in Apparels, partially offset by growth in Non-Apparels. As we enter the Festive Season, we anticipate a rebound in discretionary spending, propelling the company's growth trajectory further in the second half."

 

 

Result PDF

Department Stores company Shoppers Stop announced Q1FY24 results:

  • Reports PBT of Rs 19 crore in Q1FY24; PAT at Rs 13 crore
  • Brands premiumization across categories resulted in strong Average Transaction Value growth of 8%
  • Capex investment of Rs 43 crore
    • Added 1 HomeStop and 6 Beauty stores
    • 5 Department stores under fit-out
    • Renovated 3 Department and 1 HomeStop Store
  • Shoppers Stop launched the “Fashion For All” format under the brand “Intune”, which is a 100% private brand. Opened 3 stores-2 in Hyderabad and 1 at Dombivali (Mumbai), 3 stores under fit out
  • Beauty remained the fastest growing segment recording sales of Rs 216 crore, 13% YoY

Venu Nair, MD & CEO at Shoppers Stop, commented on the Q1FY24 results, “Retail Sector is moving towards normalcy, with Beauty & non-apparel categories seeing strong growth. However, the Apparel segment is witnessing moderation, and the operating environment remains challenging. In this context, we have delivered a resilient and competitive performance. Our business model and its strategic pillars are driving sustainable growth. As a result, our revenue for Q1FY24 has grown by 4% compared with Q1FY23. We continue to revamp our older stores to upgrade their look and feel, offering fashionable brands for all age groups and customers. Our strategy of democratization of beauty for all segments of customers has driven growth. The 3P customer-centric strategy of personalization, premiumization, and the private label has resulted in Increased Average Transaction Value (ATV) and Average Selling Price (ASP) by 8% and 5%.

On the overall store expansion strategy, Shoppers Stop will open 12 new Department stores in 7 new cities by the end of FY24, apart from 15 Beauty stores. Recently, we launched “Intune” a “Fashion For All” format, again one of the strategic initiatives to cater to the Young Families. We launched 3 stores, 2 in Hyderabad and 1 in Dombivli (Mumbai), and another 3 stores are under fit out.

Our customer engagement strategy through various offline and online activations like beauty makeovers, End of Season sales (EOSS) witnessed a rebound of customers' footfalls to our stores resulting in higher traction. For a more personalized experience through AI, we have introduced ‘Virtual Try On and Skin Analyzer’ at SSBeauty stores for a virtual try-on make-up experience.” 

 

 

Result PDF

Department stores company Shoppers Stop announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Highest-ever Q4 revenue of Rs 1,175 crore, up 32% YoY
    • EBITDA Rs 55 crore in Q4FY23 vs Rs 13 crore in Q4FY22
    • PBT of Rs 14 crore
    • Continued outperformance of our strategic pillars
      • First Citizen contributed 77% of revenue offline and 39% online
      • First Citizen Black Card – ATV 2X and total spend 4X
      • Private Brand – Rs 158 crore, up 35% YoY – contribution 14%
      • Beauty
        • Rs 197 crore up 29% YoY – contribution 17%
        • Launched 40 SKUs in Arcelia, total portfolio of 450
  • FY23:
    • Highest-ever revenue of Rs 5,066 crore, up 63%
    • EBITDA at Rs 324 crore
    • PBT of Rs 164 crore (highest ever)
    • On our strategic pillars
      • Private brands Rs 723 crore, up 70% YoY – contribution 14%
      • Beauty
        • Rs 804 crore, up 54% YoY – contribution 16%
        • Acquired exclusive distribution for 15 beauty brands
    • Opened 11 departmental and 12 beauty stores during FY23. Refurbished 11 departmental and 5 beauty stores during the year. With this, more than 60% of stores will be with new appearance

Venu Nair, MD & CEO at Shoppers Stop, commented on the Q4FY23 results, "I am pleased to share that we have continued to deliver robust sales growth this quarter, which is broad-based with a healthy balance of price, volume and mix. This is the highest sales and sales growth with all KPIs consistently improving over a period of time. All our strategic pillars have delivered this quarter, and we continue our sharp focus on robust growth in each one of them.

Specifically, on our customers, we had over 36 million visits across our offline and online channels in this quarter, with an elevated shopping experience. The Average Transaction Value (ATV) and Average Selling Price (ASP) grew by 6% and 9% respectively.

Our Private Brands Sales grew by 35%, and volume grew by 28%. The Beauty segment grew by 29%. For the full year, our Private brands and Beauty grew by 70% and 54% respectively. We have begun distributing premium Beauty Brands from last quarter. We have added 15 brands with exclusive distribution rights and onboarded 10 retailers during the year. On Home, we have onboarded Kavindra Mishra (Kavi) as CEO for Home Business and Chief Commercial Officer (External Brands)

Offline expansion is one of our key Strategies. We opened 11 department stores and 12 beauty stores during this fiscal year. For the quarter, we opened 2 Department and 1 Beauty store. In addition to the above, to enhance customer experience, we renovated 11 department and 5 beauty stores. With this, more than 60% of our stores will have the new renewed appearance."

 

 

Result PDF

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