Shoppers Stop Ltd., a leading department store with premier fashion and beauty brands, has declared its results for the quarter ended 30th June 2025.

Key financial highlights for Q1FY26:

(In Rs Cr)                

Management Comments:

Commenting on the Q1FY26 results, Kavindra Mishra, MD and CEO, Shoppers Stop Ltd, said, “We have delivered an impressive performance delivering sales of Rs. 1,336 Cr registering 6% growth and 5% LFL growth in department stores, driven by premiumisation. On our operational performance, EBITDA has improved by 68% (Under Non-GAAP) implying operational efficiency. Consumers are becoming more discerning and are willing to spend more. In a crowded marketplace, premiumisation allows retailers to stand out. As a leader in premium category products, our initiatives led our premium portfolio contribution to grow to 67% with an 8% YoY growth and LFL growth of 9%.

We are glad to inform all our KPIs are showing consistent improvement. Our First Citizen loyalty program continues to remain a key driver of our success, contributing 85% of sales supported by increasing repeat engagement and new customer additions. Private brand sales at Rs. 156 Cr with a volume growth of 18% in apparels, improved contribution and overall profitability. On the other key verticals, Beauty delivered Rs. 219 Cr with a growth of 2%. INTUNE our emerging growth driver had a sale worth Rs. 68 Cr delivering 2X, despite muted market conditions for value fashion.

We believe our work and strategies on premiumisation will continue to have better results soon, and besides to focus on offering higher-quality products."

Performance of strategic pillars in Q1FY26:

• First Citizen – First Citizen Members contributed 85% to sales, with a 70% repeat and 15% from new members. Our Premium Black Card members contributed 19% to the sales, an increase of 44% YoY. We had an all-time high enrolment with 31K Black cards and 195K Silver cards in the quarter. Initiatives like First Citizen Select days have proved effective in driving customer engagement. The First Citizen customer base has reached 12.7 million

• Beauty –Excluding distribution business Beauty segment delivered sales of Rs. 219 Cr (+2% YoY) and including distribution business Beauty segment delivered sales of Rs. 284 Cr (+17% YoY). Differentiated customer engagement initiatives powering sustainable and profitable growth. Launched new brands like DOLCE & GABBANA, LOVETC, GIORDANO and ELIE SAAB

• Beauty Distribution – Our 100% subsidiary, Global SS Beauty Brands Limited has been delivering healthy performance, delivered sales of Rs. 84 Cr registering a growth of 117% YoY. We furtherer expanded our network by enhancing the distribution of Armani Beauty across network, launched “Messi The Fragrance” in India and partnered with Swiggy Instamart
• Private Brands – Private Brands sales for the quarter were at Rs 156 Cr with a contribution of 13% to Sales and 18% on apparel’s sale. Factors such as space productivity, brand consolidation and margin expansion increased the contribution. Delivered healthy volume growth of 18% in apparels driven by 33% and 24% growth in Kids and Women Western respectively

• INTUNE – Sales contribution from INTUNE stood at Rs. 68 Cr (2x YoY). We added 4 new stores, and the total count has reached 75 stores across 33 cities. A 32% repeat customer rate in LFL stores reflects strengthening loyalty and growing acceptance of the product portfolio. We are confident of growing this category, as market conditions improve, we will keep on adding new stores

• Store Expansion – In the quarter we launched 4 INTUNE stores

At the end of this Annual General Meeting, our Chairman Mr. B S Nagesh had informed the shareholders that he will retire as Chairman after a glorious 34 years. The Shareholders and the Board wishes to place on record a tribute that echoes both the depth of our gratitude and the magnitude of his legacy.

The new incoming Chairman Nirvik Singh says, “This is not simply a farewell, but a celebration of an extraordinary tenure that has shaped the very character, vision, and resilience of our company and the overall Retail Industry”.

Over three decades, Nagesh’s decisions have been both bold and measured—an alchemy that has yielded sustained growth and lasting impact. Whether guiding the company through expansion into new markets, navigating times of uncertainty, or investing in people and technology, his vision has always been clear.

Nagesh recognized when to take calculated risks and when to exercise caution, understanding that the company’s longevity depended on both. Nagesh’s ability to inspire consensus, bring diverse voices to the table, and forge a common path forward has fostered an environment where innovation thrives and excellence is the norm.

A defining hallmark of his tenure has been your unwavering commitment to the highest standards of corporate governance. Nagesh instilled a culture of transparency, accountability, and ethical conduct that has earned the respect of shareholders, employees, and industry peers alike.

On behalf of the Shareholders, Board of Directors, Employees and other stakeholders, we wish Nagesh best of luck and extend our deepest gratitude for your thirty-four years of exemplary service. May your retirement be filled with joy, good health, and the satisfaction of knowing him have made a profound and lasting difference.

Nirvik Singh concluded with heartfelt appreciation and best wishes for the next chapter to Nagesh.