Shopper’s Stop at new high

Shopper’s Stop, which had closed yesterday at Rs.541.70, opened higher today at Rs.574 and went on to hit a new 52-week high at Rs.605.15.

The market has given its Q1FY23 numbers a big thumbs up. The company, driven by renewed demand, lower base effect and operational efficiency, posted a net profit of Rs.23 crore v/s loss of Rs.118 crore (YoY).

Revenue for operations for the company rose 368% at Rs 942 crore during the quarter on low base and believes that the growth will continue in the coming quarters due to easing of Covid-related restrictions. The company believes that coupled with the upcoming festive season, is likely to release a significant pent-up demand and further aid its revenue growth.

Its average transaction value during the quarter was up 7% while the average selling price was up 15%. E-commerce sales were up 29%.