Business Daily from THE HINDU group of publications
Tuesday, Jul 31, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 31, 2007 ePaper |
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Marketing
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Financial Performance Corporate Results - Retailing Shoppers’ Stop net dips 57%
Our Bureau Mumbai, July 30 Shoppers’ Stop Ltd has reported a decrease in net profit by 57 per cent to Rs 3 crore against Rs 7 crore in the same quarter last year. The company’s turnover increased by a little more than 32 per cent to Rs 212 crore compared with Rs 159 crore last year. Total income increased to Rs 212 crore by 31 per cent from Rs 162 crore. Mr B.S. Nagesh, Customer Care Associate and Managing Director, said: “The coming year will see us expanding our presence through our various formats. Our EBIDTA has seen a six per cent increase and shrinkage has been maintained below 0.5 per cent levels.” This quarter, Shoppers’ Stop subscribed to 51 per cent stake in Gateway Multichannel, a home and general merchandising retailer.
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