Shoppers Stop reports dismal Q4 result

Shoppers Stop reported consolidated net loss of Rs 127.22 crore in Q4 March 2020 as against a net profit of Rs 6.47 crore in Q4 March 2019.

Total income fell 10.63% to Rs 731.76 crore in Q4 March 2020 over Q4 March 2019.

The announcement was made after market hours yesterday. Shares of Shoppers Stop rose 2.82% to end at Rs 187.70 on Monday.

Shoppers Stop said that the retail industry as a whole has been adversely impacted by the spread of COVID-19. The company faces significant challenges due to COVID-19, which has impacted the operations of the company adversely starting from the month of March 2020 onwards, particularly by way of store closures due to complete lockdown.

The near-term impact is contingent on various external factors such as lifting the lock down, opening of malls and customer confidence on discretionary spending. The complete lockdown in March impacted the quarter performance as the full chain of 252 stores were shut down whilst all fixed costs remained in the books.

Shoppers Stop is the nation's leading premier retailer of fashion and beauty brands established in 1991. Spread across 89 department stores in 44 Cities, the company also operates premium home concept stores (11 Stores), 132 Specialty Beauty stores of M.A.C, Est Lauder, Bobbi Brown, Clinique, Smash box, Jo Malone and Arcelia, occupying an area of 4.5 M sq. ft.

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