Shoppers Stop reported 8% gross revenue growth in FY26 as it registered its highest department store like for like sales growth in 10 years at 4.7%.

‘We delivered a resilient performance in Q4 and FY26 in a challenging environment, driven by disciplined execution and a continued focus on premiumisation,’ said Shoppers Stop’s Managing Director and CEO Kavindra Mishra. ‘Strong operational efficiency enabled INR301 crore ($31.5mn) cash generation from operations, supported by working capital optimisation of INR 155 crore ($16.2mn). During the year, we partly retired debt to the extent of INR109 crore ($11.4mn) and remain on track to become debt‑ free by FY27.’ Shoppers Stop’s consolidated gross revenue for FY26 totalled INR6,057 crore ($641.5mn), representing an 8% YoY increase, as its department store segment crossed INR5,000 crore ($600mn). The business’ personal shoppers recorded INR1,200 crore ($125.4mn) in revenue, contributing 26% to its total. Loyalty programs also experienced growth; its ‘First Citizen’ program recorded its highest ever enrolments with its ‘Black Card’ holders increasing by 50% and ‘Silver Card’ holders by 16% over the year.

The Indian fashion market is gaining momentum, led by fast fashion and premium/ bridge‑to‑luxury segments. During Q4 ending on 31^st March, Shoppers Stop saw premium brands contribute 71% to total sales, representing YoY growth of 13%. Beauty segment sales totalled INR309 crore ($32.3mn) in Q4, a YoY increase of 17%, and within this, perfume sales grew by 37%. The business’ own brand clothing label Intune saw sales increase by 24% YoY, totalling INR67 crore ($7mn) in the quarter.