Shoppers Stop internet loss widens to Rs 25.11 crore in December quarter

Image Source : @SHOPPERSSTOP Shoppers Stop internet loss widens in December quarter.
Shoppers Stop Ltd on Friday reported widening of its consolidated internet loss to Rs 25.11 crore for the third quarter ended December 31, 2020. The firm had posted a internet lack of Rs 6.51 crore within the October-December quarter a yr in the past.

Its whole earnings declined 27.2 per cent to Rs 746.45 crore through the interval beneath evaluate as in opposition to Rs 1,025.53 crore within the corresponding quarter of the earlier fiscal, Shoppers Stop mentioned in a regulatory submitting.

Shoppers Stop’s whole bills stood at Rs 778.78 crore through the quarter as in opposition to Rs 963.90 crore a yr in the past, down 19.2 per cent.

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Shoppers Stop MD and CEO Venu Nair mentioned, “Business recovery during the festival period has been encouraging. The festive period helped footfall into stores and also generated higher digital sales.”

Its digital initiatives resembling white-glove companies (video-assisted initiative), yellow messenger companies (chat enabled) and appointment companies (by way of web site and app) have engaged clients to a brand new stage and contributed to our development within the third quarter, he added.

Share of Shoppers Stop on Friday settled at Rs 206.75 on the BSE, down 2.75 per cent from the earlier shut.

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