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Shopper's Stop: Shopping is back in fashion - Views on News from Equitymaster

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Shopper's Stop: Shopping is back in fashion
May 11, 2010

Shopper's Stop has announced its FY10 results. The company has reported an 11.3% YoY growth in sales. At the net level, it reported profit of Rs 502 m as against a loss of Rs 637 m in FY09. Here is our analysis of the results.

Performance summary
  • Standalone topline grows by 11% YoY. The growth has come in on account of expansion of retail footprint and economic revival that boosted consumer sentiment.
  • Operating margins expand by 4.6% as costs continue to grow at a slower pace compared to growth in topline.
  • Apart from good show at operating level, lower depreciation and interest lead to profitable end to the fiscal year.
  • At the net level, it reports Rs 502 m as profit as against a loss of Rs 637 m during the same period last year.
  • On a consolidated basis, topline grows by 11.4% YoY. At the net level, the company reports a profit of nearly Rs 359 m as against a loss of nearly Rs 637 m during the same period last year.
  • During the year, Shopper’s Stop increased its retail footprint across formats. It added 4 Shoppers Stop stores, 4 Crossword outlets, 2 MAC stores, 2 Estee Lauder stores and 1 Clinique store.
  • The board of the company has recommended a dividend of Rs 1.5 per share for the fiscal.
  • The company holds 19% stake in Hypercity and can increase it to 51% by the end of June 2010. The board of the Directors has accorded their ‘in principle’ approval subject to requisite approvals for acquisition of balance 32% of share capital of Hypercity Retail (India) Ltd.

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Sep 24, 2018 (Close)


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