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
Conference Call with Shoppers Stop Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
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