Fashion and beauty retailer Shoppers Stop Ltd. reported a 9% year-on-year growth in sales for the quarter that ended December 31, 2024, reaching Rs 1,311 crore under GAAP metrics. EBITDA increased by 20% to Rs 262 crore, while profit after tax (PAT) rose by 37% to Rs 49 crore.
The company’s strategic focus on premiumisation resulted in premium categories contributing 64% to total revenue, a 9% increase from the previous year. Key operational metrics, including average transaction value (ATV), average selling price (ASP), and items per transaction (IPT), improved by 6%, 4%, and 2%, respectively.
In terms of operational highlights, the company added 16 new stores during the quarter, including one department store, nine INTUNE value fashion outlets, and six beauty stores. INTUNE stores contributed Rs 63 crore in sales for the quarter, bringing the total number of INTUNE locations to 59 across 25 cities. Capital expenditures for the quarter stood at Rs 53 crore, with the year-to-date total reaching Rs 141 crore.
Within category insights, beauty sales grew by 3% to Rs 268 crore, driven by a 14% increase in the fragrance segment. The quarter also featured the launch of a new private beauty brand, “JOYOLOGY,” alongside six new beauty stores. Additionally, private brands generated Rs 186 crore in sales, contributing 12% to overall revenue. Apparel from private brands accounted for 18% of sales within the apparel segment, with enhanced margins achieved through reduced markdowns and obsolescence.
Furthermore, the “First Citizen” loyalty program contributed 83% of total sales, with repeat sales accounting for 69%. Premium Black Card members drove 17% of sales, up 28% year-on-year.
Kavindra Mishra, MD and CEO of Shoppers Stop Ltd., commented, “Despite higher inflation and a decline in consumer spending, we achieved volume-led revenue growth of 9% and like-for-like (LFL) growth of 4%. Our initiatives, including campaigns like ‘India Weds with Shoppers Stop’ and ‘Winter Magic,’ contributed to the growth in premiumization, with premium categories now contributing 64% of total revenue.”
Looking ahead, Shopper’s Stop plans to open an additional 26 INTUNE and six department stores in the fourth quarter.
About Shoppers Stop
Established in 1991, Shoppers Stop Ltd. operates 109 department stores and a range of speciality and beauty outlets across 68 cities in India. Its “First Citizen” loyalty program and services like “Personal Shopper” aim to enhance customer experiences.
