Conference Call with Shoppers Stop Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Department stores company Shoppers Stop announced Q3FY23 results: Q3FY23: Revenue at Rs 1,430 crore, up 20% YoY EBITDA grew 27% YoY to Rs 128 crore PBT grew up by 44% YoY to Rs 91 crore PAT at Rs 68 crore vs Rs 47 crore in Q3FY22 Debt-free with surplus cash of Rs 42 crore Continues to be debt-free, post-investment in capex of Rs 125 crore /need-based working capital of Rs 85 crores. Launches six new department stores and five beauty stores. Venu Nair, MD and CEO at Shoppers Stop, commented on the Q3FY23 results, "The growth momentum continued from the second quarter, tapering down a little after Diwali. Customer sentiments remain largely buoyant due to the prolonged festive and wedding season demand. The company’s strategy to give a great buying experience to the customers is fueling footfalls at our physical stores, and eyeballs online. The revamped look and feel of the stores, and diversified product SKUs have made Shoppers Stop the preferred choice of customers. We clocked the highest-ever quarterly sales, gross margin, EBITDA and PBT. Product premiumization across private brand categories has resulted in the highest quarterly sales with a growth of 23%. The beauty category was strong and reported highest quarterly sales with a growth of 18%. The company’s fund allocation strategy has kept us debt-free, and we have net surplus cash of Rs 42 crore in our books. Our store expansion plan is on track as we opened six department and five beauty stores. Five more department stores are under fit out. By the fiscal year-end, we plan to open a further 5 department stores and 4 Beauty Stores in 7 cities, taking the overall store count to 280 stores in 54 cities.” Result PDF