News: Shopper's Stop net zooms 74%
(TNN 04/05/2006) Mumbai - Shopper’s Stop, the retail arm of the K Raheja Group, has recorded a 73.7% rise in net profit at Rs 7.3 crore for the quarter ended March ‘06 as incomes among the urban middle class expanded in a growing economy. Sales climbed 43% to Rs 152.5 crore. Profit before tax for the period was up 136% to Rs 11 crore.
As the company is expanding, employee costs shot up by 39.7% to Rs 40 crore during the period. EPS during the period went up to Rs 2.1 from the earlier Rs 1.5.For the year ended March ‘06, Shopper’s Stop recorded a 42.6% rise in net profit to Rs 27 crore, while net sales were up 41.3% to Rs 58.8 crore.
Profit before tax was up 94% to Rs 40.2 crore. Employee costs rose 39.7% to Rs 40 crore. EPS rose to Rs 8.1 from the earlier Rs 6.9. Shopper’s Stop shares fell 0.84% to Rs 565. “We have seen not only a very healthy increase in the topline but all-round operational efficiencies have gone up.
Margin percentage has seen a 1.9% increase, shrinkage has been maintained below 0.45% levels, which is lower than the international benchmark,” said BS Nagesh, customer care associate and MD, Shopper’s Stop. The company has a loyalty programme called First Citizen through which members accounted for over 62% of the sales in the year ended March 31, ’06.
Shopper’s Stop also entered the food and beverages business by opening its first café BRIO in Bangalore. The second café was launched recently at the Juhu store of Shopper’s Stop. Mothercare, the UK-based brand for which Shopper’s Stop has acquired franchise rights for India, was also recently launched by the company in four of its stores.
During FY06, the company added 1,97,853 sq ft by opening four stores, including 36,873 Sq ft of Home Stop. Crossword during the same period opened 9 stores. With that as on March 31, ‘06 the total number of Shopper’s Stop stores, Home Stop stores and Crossword stores were 19, 1 and 31 respectively in 10 cities across India.
As the company is expanding, employee costs shot up by 39.7% to Rs 40 crore during the period. EPS during the period went up to Rs 2.1 from the earlier Rs 1.5.For the year ended March ‘06, Shopper’s Stop recorded a 42.6% rise in net profit to Rs 27 crore, while net sales were up 41.3% to Rs 58.8 crore.
Profit before tax was up 94% to Rs 40.2 crore. Employee costs rose 39.7% to Rs 40 crore. EPS rose to Rs 8.1 from the earlier Rs 6.9. Shopper’s Stop shares fell 0.84% to Rs 565. “We have seen not only a very healthy increase in the topline but all-round operational efficiencies have gone up.
Margin percentage has seen a 1.9% increase, shrinkage has been maintained below 0.45% levels, which is lower than the international benchmark,” said BS Nagesh, customer care associate and MD, Shopper’s Stop. The company has a loyalty programme called First Citizen through which members accounted for over 62% of the sales in the year ended March 31, ’06.
Shopper’s Stop also entered the food and beverages business by opening its first café BRIO in Bangalore. The second café was launched recently at the Juhu store of Shopper’s Stop. Mothercare, the UK-based brand for which Shopper’s Stop has acquired franchise rights for India, was also recently launched by the company in four of its stores.
During FY06, the company added 1,97,853 sq ft by opening four stores, including 36,873 Sq ft of Home Stop. Crossword during the same period opened 9 stores. With that as on March 31, ‘06 the total number of Shopper’s Stop stores, Home Stop stores and Crossword stores were 19, 1 and 31 respectively in 10 cities across India.
posted by InCar Group Press Room at 16:45
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