Shoppers Stop extends losses, down 12% in two days; Antique cuts TP by 28%
Shoppers Stop stock fell as much as 5.4 per cent to ₹323.25 on the National Stock Exchange (NSE) in Thursday's intra-day trade.
 "Shoppers Stop extends losses, down 12% in two days; Antique cuts TP by 28%")
Shoppers Stop share price today
Shoppers Stop share price extended losses and continued to trade near four-year lows following a weak performance in the third quarter (Q3FY26). The scrip fell as much as 5.4 per cent to ₹323.25 on the National Stock Exchange (NSE). Meanwhile, broking firm Antique has slashed the target price on the stock,
Shoppers Stop was trading 0.37 per cent down at ₹343 as of 3:03 PM, as compared to 0.43 per cent advance in the Nifty 50 index. So far, the counter saw a trade of 0.12 million shares.
In the previous session, Shoppers Stop shares slumped 12.39 per cent to ₹319.30 per share, hitting their lowest level since February 24, 2022, on Wednesday.
Why did Shoppers Stop share price fall today?
Antique slashed the target price of Shoppers Stop to factor in the weak performance in the third quarter of the current financial year (Q3FY26), while it maintained a ‘Buy’ rating because of an attractive valuation. This weighed on the sentiment for the stock.
Antique reduced the target price to ₹505 from ₹706 - down down 28.5 per cent from earlier projection. The current target price implies an upside potential of 47.23 per cent from current levels.
Shoppers Stop’s standalone revenue growth missed Antique’s estimates because of weak discretionary demand, shift in festival season, and pollution in northern India, the brokerage said.
The company reported the earnings before interest, taxes, depreciation, and amortisation (Ebitda) margin at 15.9 per cent, against Antique’s estimate of 18.2 per cent for the third quarter. The steep gross margin contraction and higher marketing and customer acquisition costs impacted the margin, the brokerage said.
Shoppers Stop’s gross margin contracted 128 basis points to 39.2 per cent due to early Intune end-of-season sale, and higher provision in private label, the brokerage said.
The sharp decline in the third-quarter net profit was also due to higher provisions for the changes in the labour code, Antique said.
The brokerage expects an 8 per cent compound annual growth rate (CAGR) of sales for Shoppers Stop from the financial year 2025 to 2028. The brokerage slashed the earnings before interest, taxes, depreciation, and amortisation (Ebitda) estimates by 11 per cent, 13 per cent, and 18 per cent, respectively, for the financial years 2026, 2027, and 2028, respectively.
Shoppers Stop’s future performance will depend on the expansion of Intune, growth of beauty business, reduction in losses of new businesses, and higher footfalls led by a better customer service through various programs, Antique said.
Shoppers Stop Q3 Performance:
Shoppers Stop reported that its consolidted net profit fell 74 per cent on year to ₹12.61 crore in the third quarter of the current financial year (Q3FY26), from ₹48.78 crore in the similar period a year ago.
Shoppers Stop's consolidated revenue also grew by a mere 1 per cent on year to ₹1,320.45 crore in Q3FY26 from ₹1,311.46 crore in the similar period of the previous financial year (Q3FY25).
The total expenses grew 4 per cent on year to ₹1,313.32 crore during the period, compared to ₹1,265.54 crore Y-o-Y, according to the exchange filing.
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