Shares of this premier fashion and beauty brand surged 7.07% on July 27
The shares have surged as the company posted robust Q1FY23 results.
Shoppers Stop Ltd is the nation's leading premier retailer of fashion and beauty brands established in 1991. Spread across 90 department stores in 47 cities, the company also operates 11 premium home concept stores, 138 speciality beauty stores of MAC, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SS Beauty, and 25 airport doors, occupying area of 3.8 mn sq. ft.
Key financial highlights for the quarter ended June 30, 2022:
On a consolidated basis, the company has reported a net profit of Rs 22.83 crore for the quarter that ended on 30 June 2022, as against a net loss of Rs 104.89 crore for the same quarter in the previous year. The total income of the company increased to over 3-fold at Rs 954.00 crore for the quarter under review as compared to Rs 269.50 crore for the same quarter the previous year. The company is debt free and in the June quarter it managed to open 6 new stores
The company expects FY23 to be one of the strongest years for the retail industry as returning mobility and higher ticket purchases led by the pent-up demand will likely drive retail spending over the coming months. For industries like beauty, formal dress, and Indian wear, the holiday season and the hybrid workplace culture will present fantastic growth potential. With its user-friendly digital platforms, Shoppers Stop will lead the change in how digital channels will flourish going forward.
The BSE group 'A' stock touched a 52-week high of Rs 605.15 on April 27, 2022, and a 52-week low of Rs 225.75 on August 23, 2021.
At 12:45 pm, the shares have rallied by 7.07% and the scrip is trading at Rs 580.
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