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Monday, 07 November 2011 |
Retail chain Shoppers Stop has registered an increase in its net profit by 12.06 per cent to Rs
19.5 crores in Q2. The company had posted a net profit of Rs 17.4 crores in the same period last financial year. Gross retail turnover of the company grew to Rs 557.4 crores for the second quarter ended September 30, compared to Rs 481.4 crores in the same period last fiscal. Commenting on the results, SSL Customer Care Associate and Managing Director, Govind Shrikhande said: "Shoppers Stop continues to witness a healthy like-to-like growth. We continue our growth trajectory of expansion through new store openings."
The company has already opened nine Shoppers Stop outlets this fiscal and may add 2-3 more by March. It also plans to open two HyperCity outlets in the current fiscal. It opened two Mothercare shop-in-shop stores within Shoppers Stop at Alpha G, Ahmedabad and Pacific, Pune. With the opening of these two stores, the company has now 36 Mothercare stores, with six stores on standalone basis and 30 shop-in-shops.
Though it is early to talk about the impact of signs of slowdown on consumer spending and demand, the real test for retailers would be in the current quarter. The Shoppers Stop stock has outperformed the BSE-500 index since the beginning of this fiscal.
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