Shoppers Stop Results Earnings Call for Q3FY24
Conference Call with Shoppers Stop Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.19-01-2024
19-01-2024
Q3FY24 Quarterly Result Announced for Shoppers Stop Ltd.
Department Stores company Shoppers Stop announced Q3FY24 results: Financial Highlights: - Sales: Generated quarterly sales of Rs 1,207 crore, marking an increase of +7% YoY. - Gross Margin: Gross Margin stood at 39.7% in Q3FY24. - EBITDA (GAAP): EBITDA reached Rs 219 crore. - Non-GAAP Results: Compared to Q3FY23, the company demonstrated a Sales growth of 4% to Rs 1,484 crore. Performance by Segment: - Beauty Segment: Showed a strong performance with a +10% growth, led by Fragrance at +41% and Makeup at +6%. The beauty segment contributed 18% to the overall sales mix. - Private Brands: Achieved Rs 189 crore in sales with a 13% overall sales contribution and 19% contribution to apparel sales. Women's Indian Wear within this segment saw a +7% increase. - Intune Stores: Added 4 new stores during the quarter with a full price sell-through of 65% and a kidswear mix at 27%. Store Expansion: - Added 13 new stores including 4 Department, 4 Beauty, 4 Intune, and 1 Airport store. - Invested Rs 51 crore for expansion during the quarter with a total year-to-date capex of Rs 162 crore. Loyalty Program and Customer Engagement: - First Citizen Members: Contributed 78% to overall sales with 65% repeat and 13% new members. Premium Black Card members contributed 13% to the overall sales, up by 18% YoY. - Customer Events: Held 118 customer events across all stores for an enhanced shopping experience. Beauty Distribution: - Sales: The beauty distribution business recorded Rs 39 crore in sales with the distribution network expanded to over 334 doors. Balance Sheet: - The company remains debt-free with a net cash surplus of Rs 40 crore. Commenting on the Q3FY24 results, Kavindra Mishra, Executive Director and CEO, Shoppers Stop, said, “With considerable slowdown on the discretionary spending, we have demonstrated notable resilience in these tough conditions. Our Company has delivered admirable financial results with a Sales growth of 7% despite muted consumer demand. And during the festive period, the sales grew by 9% (LTL +5%). Average Transaction value grew by 6% driven by premiumization and Items per Ticket grew by +5%. Some of the outliers for Q3 are, that our external Brands both apparel and non-apparel have grown above average, with better yields on our KPIs. Our Home Stop has turned around and had an impressive growth of 10%, with a sale of Rs 42 crore. We reported a GAAP EBITDA of Rs 219 crore vs Rs 240 crore in FY23. Our EBITDA has been lower due to a one-time Income of Rs 17 crore as other Income in FY23 and we have made provision for obsolescence of circa Rs 9 crore during the quarter. We have observed that despite the overall muted market conditions our customers have upped their spending on the differentiated mix of premium brands and experiences across various categories wherein SSL is a destination”. Result PDF18-01-2024
SHOPPERS STOP LTD. - 532638 - Announcement under Regulation 30 (LODR)-Investor Presentation
Press Release and Investor Presentation for the quarter and nine months ended December 31, 202318-01-2024
SHOPPERS STOP LTD. - 532638 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release and Investor Presentation for the quarter and nine months ended December 31, 2023.18-01-2024
SHOPPERS STOP LTD. - 532638 - Unaudited Financial Results For Quarter Ended December 2023
Unaudited Financial Results for quarter ended December 202318-01-2024
SHOPPERS STOP LTD. - 532638 - Board Meeting Outcome for Outcome Of Board Meeting
Outcome of Board Meeting18-01-2024
SHOPPERS STOP LTD. - 532638 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
Please find attached disclosure informing that the Nomination Remuneration & Corporate Governance Committee at its meeting held on January 18, 2024 approved allotment of total 2684 equity shares under ESOP 2020 scheme and 12,636 equity shares under ESOP 2022 scheme.18-01-2024
SHOPPERS STOP LTD. - 532638 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 ("the Regulation") please find attached Compliance Certificate for the quarter ended December 31, 2023.17-01-2024
SHOPPERS STOP LTD. - 532638 - Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Aditya Birla Sun Life Mutual Fund12-01-2024