16 June 2021
The Weekly

Shoppers Stop has posted rapid business recovery in Q4 FY21 with a 188% growth in omnichannel sales over the corresponding quarter of FY20. The company logged 90% of FY20 sales in Q4 FY21, the strongest recovery in the last four quarters. It reported Q4 sales at Rs 825 crore (US$ 12mn), reflecting a 10% YoY decline from FY20 and EBITDA at Rs 10.5 crore vs Rs.16.7 crore loss in FY20. Gross margins improved by 1.89% with an improved mix from private brands. Private Brand grew by 11.5% (volume 38%) and its share to total business increased by 2.5%. Shoppers Stop’s private brands' volume grew by 38%, with the beauty category outperforming with the start of make-up from mid-January. The company looks to add 20+ stores across large and small formats in FY22, noting that store expansion was deferred due to the Covid-19 impact in FY21.