Shoppers Stop Revenues

 Shoppers Stop

Leading apparel retailer Shoppers Stop has posted the highest-ever Q4 revenue. For the quarter ending on 31st March 2023, it has a revenue of Rs. 1,175 crore which is 32 per cent more on Y-o-Y basis.

The company also has the highest annual revenue as it was Rs 5,066 crore for FY 2022-23 which is also up by 63 per cent on Y-o-Y basis.

The retailer’s private brands sales grew by 35 per cent, and volume grew by 28 per cent. Private brands have a contribution of Rs. 723 crore (70 per cent up on Y-o-Y basis) in annual revenue. It is 14 per cent of total revenue.

Offline expansion is one of the key strategies for the company as it opened 11 department stores and 12 beauty stores during this fiscal year.

Venu Nair, MD and CEO at Shoppers Stop, commented on the Q4 FY23 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 on each one of them.”

He further added that specifically, on its customers, the company had over 36 million visits across offline and online channels in this quarter, with elevated shopping experience. The Average Transaction Value (ATV) and Average Selling Price (ASP) grew by 6 per cent and 9 per cent respectively.