20 January: Shoppers Stop had reported a widening consolidated net loss to Rs. 25 crore for the third quarter that ended on December 31, 2020. However, the net loss of the company during the same period in the last year was Rs. 7 crore.
At the same time, the expenses of Shoppers Stop during the quarter under review was 19 per cent down to Rs. 779 crore, however, against Rs. 964 crore in the last year period.
Shoppers Stop is one of the leading retailers of fashion and beauty products for renowned brands. The retailer was established in 1991 as it has 89 department stores in almost 44 cities.
Also read: To end 2020 on a high note, Shoppers Stop launches Goodbuy 2020
Sharing a take on the third-quarter results, Venu Nair serving as Shoppers Stop’s managing director and CEO said in a statement, “Business recovery during the festival period has been encouraging. The festive period helped footfall into stores and generated higher digital sales.”
Further, she also added, “Its digital initiatives such as white-glove services (video-assisted initiative), yellow messenger services (chat enabled) and appointment services (through website and app) have engaged customers to a new level and contributed to our growth in the third quarter.”
The well-known Indian store chain bestows a wide range of products for clothing, accessories, handbag, shoes, jewellery, fragrances, cosmetics, health and beauty, home furnishing and decor as well. One can buy the products from the stores and via their online app.
