Retailing firm Shoppers Stop declares Q3FY22 result: Sales soar 35% YoY to Rs. 1070 Cr, returns to profitability and net debt to zero Business recovery continues with easing of mobility restrictions and consumers returning to stores Strong sales rebound and revenue improves by 35% year-on-year to Rs.1070 Crores in Q3FY22, close to pre-covid levels Private Brands revenue grows by 32% year-on-year Beauty Segment revenue up by 40% year-on-year First Citizen sales contribution from the offline channel at 72% and online at 42% Personal Shoppers contribution at 10% Earnings before interest, tax, depreciation and amortization (EBITDA), up by 57% to Rs.197 Crores while the gross margin grows by 170 basis points to 36%. EBITDA performance driven by robust demand recovery and tight control on costs E-commerce sales continues to grow rapidly, up by 39% Investments continue for new stores and renovations with a capex of Rs.55 crores Operating expenditure of Rs. 40 Crores for Omnichannel 5 new stores opened Back to Net Debt Free Mr. Venu Nair, MD & CEO at Shoppers Stop, said, "We are witnessing positive signs from a strategy that we initiated in the last 2 years. As the fashion and beauty retail is seeing encouraging early trends from the Wardrobe Reboot, we are rightly poised to capture the pent-up demand. Customer sentiments are extremely positive owing to the double vaccination, lesser restrictions and an overall improvement in safety protocols, leading to increased customer footfalls for us." "The Company has seen a sustained demand during the festive period and the marriage season in October and November. We have witnessed a high customer spend and a higher Average Transaction Value (ATV). While Omnichannel is here to stay, our present online contribution gives us immense headroom to grow," he added. Result PDF