Latest news with #ShoppersStopLtd
Time of India
18-07-2025
- Business
- Time of India
Shoppers Stop net loss narrows to Rs 15.74 cr in Q1
Retail chain Shoppers Stop Ltd on Thursday reported a narrowing of consolidated net loss to Rs 15.74 crore in the first quarter ended June 30, 2025. The company, which had posted a consolidated net loss of Rs 22.72 crore in the first quarter last fiscal, said its long-serving chairman B S Nagesh will retire from the post after 34 years of service. Consolidated revenue from operations stood at Rs 1,161.08 crore in the first quarter against Rs 1,069.31 crore in the year-ago period, Shoppers Stop Ltd said in a regulatory filing. Total expenses in the quarter under review were higher at Rs 1,192.06 crore compared with Rs 1,104.51 crore in the year-ago period, the company said. Shoppers Stop Managing Director and Chief Executive Officer Kavindra Mishra said the company witnessed sales growth in the quarter, driven by premiumisation. "Consumers are becoming more discerning and are willing to spend more. In a crowded marketplace, premiumisation allows retailers to stand out," he added. Private brand sales at Rs 156 crore with a volume growth of 18 per cent in apparel, improved contribution and overall profitability. On the other key verticals, beauty delivered Rs 219 crore with a growth of 2 per cent, Mishra noted. On the way forward, he said, "We believe our work and strategies on premiumisation will continue to have better results soon, and besides to focus on offering higher-quality products." Shoppers Stop said the retirement of Nagesh has become effective July 17, 2025, and Nirvik Singh will be the new chairman effective July 18, 2025.
Mint
17-07-2025
- Business
- Mint
Shoppers Stop's long-serving chairman Nagesh quits amid leadership churn
Bengaluru: B.S. Nagesh has stepped down as chairman of Shoppers Stop Ltd after more than three decades at the helm. His retirement, announced at the company's annual general meeting on Thursday, marks the end of an era for the retailer, which is battling a series of senior-level exits and rising competition. The Mumbai-based company's board has appointed Nirvik Singh, international president at advertising and marketing agency Grey Group, as the new chairman effective 18 July, it said in a statement. Singh has been the director of Shoppers Stop since June 2008. Nagesh was part of the founding team that launched Shoppers Stop in 1991. Under his leadership, the company expanded from a single store in Mumbai to a national footprint of 299 stores across 70 cities, including 112 department stores, 75 Intune value-fashion outlets, and 82 beauty stores. He is credited with introducing global brands to India, building one of the country's longest-running loyalty programmes, and steering the company through multiple consumption cycles. The company, a retail arm of the K Raheja Corp, went public in 2003. Since then, the company's revenue grew from ₹ 401 crore in FY04 to ₹ 5,427 crore in FY25 during his tenure. Shares of Shoppers Stop settled 0.6% higher at ₹ 579.45 apiece on the National Stock Exchange on Thursday. In the April-June quarter of this fiscal year, Shoppers Stop narrowed its net loss as affluent customers spent on luxury watches, and trendy apparel to drive revenue growth. Its overall revenue rose 6% to ₹ 1,094 crore, and net loss narrowed to ₹ 18 crore during the quarter. Its CEO Kavindra Mishra said Shoppers Stop's focus on high-end products is paying off, with premium brands now accounting for 67% of department store sales. 'Consumers are becoming more discerning and are willing to spend more. In a crowded marketplace, premiumisation allows retailers to stand out,' he said in the statement. According to the company's FY25 annual report, Shoppers Stop saw six senior-level exits last fiscal. Chief human resources officer Venkatesh Raja resigned in January, and departed in April, chief marketing officer Shwetal Basu in July 2024, and chief E-commerce officer Sreekanth Chetlur in mid-2024. The private brands division saw two consecutive departures - Ajay Chablani in November and Rajan Sharma in March. The company also had three company secretaries over six months, with Rakeshkumar Saini appointed in January 2025. These exits prompted the company to make new appointments, including Jiten Mahendra as chief marketing and communication officer and Mohit Seth as chief – external brands, both in July 2024. Kavindra Mishra, initially hired as chief operating officer, was elevated to managing director and chief executive officer within a few weeks of Venu Nair's exit. Mishra is the third CEO in five years. The First Citizen loyalty programme remained a key driver, contributing 85% to overall sales. Of this, 70% came from repeat customers, suggesting strong retention, while 15% came from new members, pointing to modest fresh acquisition. To diversify its revenue mix, Shoppers Stop is leaning on two verticals: Intune, its value-fashion chain, and beauty retail. Intune posted ₹ 68 crore in sales in the April-June quarter, doubling year-on-year, and adding four new stores, taking the total to 75. The beauty distribution business, operated through a subsidiary, delivered ₹ 84 crore in sales, up 117%, driven by new brand launches and expanded reach. The core beauty segment, excluding distribution, contributed ₹ 219 crore, growing 2% year-on-year. Private brands also saw traction, bringing in ₹ 156 crore in the June quarter. These accounted for 13% of total sales and 18% of apparel sales. Volume growth in apparel stood at 18%, led by strong performance in kidswear and women's western wear, indicating a shift in consumer preference toward in-house labels. Intune competes directly with Trent's Zudio and Westside. Zudio, launched in 2016, has become Trent's primary growth engine, contributing over half of the company's fashion revenues and crossing ₹ 8,300 crore in annual sales in FY25. The brand added 244 stores during the year, expanding to 765 outlets across 235 cities, including two overseas locations. In contrast, Intune is still in its early growth phase, operating 75 stores across 33 cities as of June. It posted ₹ 192 crore in revenue in FY25, and sales of ₹ 68 crore in the first quarter of FY26. While Zudio has built scale and density, Intune's footprint remains concentrated in tier-1 and tier- cities, limiting its reach in smaller markets where value fashion is gaining momentum.
News18
17-07-2025
- Business
- News18
Shoppers Stop net loss narrows to Rs 15.74 cr in Q1
Agency: Last Updated: New Delhi, Jul 17 (PTI) Retail chain Shoppers Stop Ltd on Thursday reported a narrowing of consolidated net loss to Rs 15.74 crore in the first quarter ended June 30, 2025. The company, which had posted a consolidated net loss of Rs 22.72 crore in the first quarter last fiscal, said its long-serving chairman B S Nagesh will retire from the post after 34 years of service. Consolidated revenue from operations stood at Rs 1,161.08 crore in the first quarter against Rs 1,069.31 crore in the year-ago period, Shoppers Stop Ltd said in a regulatory filing. Total expenses in the quarter under review were higher at Rs 1,192.06 crore compared with Rs 1,104.51 crore in the year-ago period, the company said. Shoppers Stop Managing Director and Chief Executive Officer Kavindra Mishra said the company witnessed sales growth in the quarter, driven by premiumisation. 'Consumers are becoming more discerning and are willing to spend more. In a crowded marketplace, premiumisation allows retailers to stand out," he added. Private brand sales at Rs 156 crore with a volume growth of 18 per cent in apparel, improved contribution and overall profitability. On the other key verticals, beauty delivered Rs 219 crore with a growth of 2 per cent, Mishra noted. On the way forward, he said, 'We believe our work and strategies on premiumisation will continue to have better results soon, and besides to focus on offering higher-quality products." Shoppers Stop said the retirement of Nagesh has become effective July 17, 2025, and Nirvik Singh will be the new chairman effective July 18, 2025. PTI RKL SHW view comments First Published: July 17, 2025, 20:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Fibre2Fashion
30-04-2025
- Business
- Fibre2Fashion
India's Shoppers Stop FY25 sales up 5%, PAT plunges 92% YoY
Indian department store with premier fashion brands Shoppers Stop Ltd has reported sales of ₹4,436 crore (~$532 million) in fiscal 2025 (FY25) on basis of GAAP, an increase of 5 per cent year-over-year (YoY). GAAP EBITDA stood at ₹751 crore, a marginal 2 per cent decline YoY. The profit before tax (PBT) under GAAP dropped to nil from ₹ 100 crore, and profit after tax (PAT) fell sharply by 92 per cent to ₹6 crore. GAAP gross margin improved by 60 basis points (bps) to 41.3 per cent. On a non-GAAP basis, sales rose by 4 per cent to ₹5,427 crore (~$650.5 million). PBT declined by 77 per cent to ₹18 crore, while non-GAAP PAT declined 59 per cent to ₹23 crore, whereas non-GAAP EBITDA fell by 19 per cent to ₹183 crore, while gross margin also expanded by 60 basis points (bps) to 37.7 per cent. Shoppers Stop has reported GAAP sales of ₹4,436 crore (~$532 million) in FY25, up 5 per cent YoY, with a 2 per cent dip in EBITDA and a sharp PAT fall. Non-GAAP sales rose 4 per cent to ₹5,427 crore (~$650.5 million). The company saw modest growth and strong margin expansion in Q4. Premium brands drove 65 per cent of sales. It remains focused on premiumisation, digital engagement and store expansion. In the fourth quarter (Q4) of FY25, the company reported GAAP sales of ₹1,022 crore (~$122.5 million), registering a modest 2 per cent YoY growth. On a non-GAAP basis, sales rose by 4 per cent to ₹1,284 crore (~$154 million). GAAP gross margin expanded significantly by 380 bps to 44.3 per cent, while non-GAAP gross margin improved by 210 bps to 38.8 per cent. GAAP EBITDA declined by 6 per cent to ₹187 crore, whereas non-GAAP EBITDA saw a 2 per cent YoY rise to ₹38 crore. GAAP PBT turned negative at ₹5 crore, down from ₹28 crore, while non-GAAP PBT declined by 72 per cent to ₹1 crore. GAAP PAT dropped sharply by 91 per cent to ₹2 crore, whereas non-GAAP PAT increased by 119 per cent to ₹9 crore. During Q4 FY25, First Citizen members contributed 82 per cent to the company's sales, with 69 per cent coming from repeat customers and 13 per cent from new members. Premium Black Card members accounted for 16 per cent of sales, reflecting a strong 38 per cent YoY growth. The company maintained robust customer engagement through continuous programmes and campaigns, with AI-personalised videos driving a 2x increase in conversion. Private Brands recorded ₹145 crore in sales, contributing 11 per cent to overall sales and 16 per cent within the apparel segment, supported by improved productivity, higher intake margins, and a focus on digital prints and sustainable fabrics. Store productivity remained a key focus for the retail group as 21 new stores were launched during Q4, including 5 department stores, 15 Intune outlets, and 1 beauty store, with a capital expenditure of ₹52 crore in Q4 and ₹192 crore for FY25. 'Shoppers Stop delivered consistent performance despite continued softness in demand and a challenging macro environment. We achieved 4 per cent revenue growth with 3 per cent like-for-kike 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,' said Kavindra Mishra, managing director (MD) and chief executive officer (CEO) at Shoppers Stop . 'Our strategy of premiumisation continues to yield strong results, with premium brands contributing 65 per cent of total sales, +7 per cent 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 per cent of sales with growing repeat engagement,' added Mishra. 'Despite the gradual demand recovery, we are optimistic due to structural changes like premiumisation, 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 personalisation, expansion to drive sustainable growth in FY26 and beyond.' Fibre2Fashion News Desk (SG)
Business Standard
30-04-2025
- Business
- Business Standard
Praj Industries Ltd leads losers in 'A' group
Shoppers Stop Ltd, Five-Star Business Finance Ltd, Craftsman Automation Ltd and Bajaj Finserv Ltd are among the other losers in the BSE's 'A' group today, 30 April 2025. Shoppers Stop Ltd, Five-Star Business Finance Ltd, Craftsman Automation Ltd and Bajaj Finserv Ltd are among the other losers in the BSE's 'A' group today, 30 April 2025. Praj Industries Ltd lost 8.09% to Rs 466.8 at 14:46 stock was the biggest loser in the BSE's 'A' the BSE, 1.84 lakh shares were traded on the counter so far as against the average daily volumes of 45278 shares in the past one month. Shoppers Stop Ltd tumbled 7.69% to Rs 509.4. The stock was the second biggest loser in 'A' the BSE, 14133 shares were traded on the counter so far as against the average daily volumes of 3054 shares in the past one month. Five-Star Business Finance Ltd crashed 5.65% to Rs 712.85. The stock was the third biggest loser in 'A' the BSE, 39582 shares were traded on the counter so far as against the average daily volumes of 30359 shares in the past one month. Craftsman Automation Ltd dropped 5.55% to Rs 4611.3. The stock was the fourth biggest loser in 'A' the BSE, 1633 shares were traded on the counter so far as against the average daily volumes of 896 shares in the past one month. Bajaj Finserv Ltd shed 5.45% to Rs 1952.4. The stock was the fifth biggest loser in 'A' the BSE, 1.43 lakh shares were traded on the counter so far as against the average daily volumes of 66440 shares in the past one month.
