Shoppers Stop Ltd., India’s pioneer destination for premium fashion, beauty, and non-apparels, announced its results for quarter ended 30th September’26, achieving PAT positive performance in both Q2 and H1, reflecting the strength of its premiumization-led growth strategy.

Key Highlights for Q2

Department Format Sales Rs 1,302 Cr,+4%; Festive Adjusted LFL Growth of 7%

• Beauty segment outperformed with Sales Rs 367 Cr, +18%; Led by Fragrance +35%
• Beauty distribution (GSSBB) Rs 168 Cr, +59%; Highest quarterly Sales
• Premium portfolio contribution at 73%, +390 Bps; Sales +10%
• INTUNE Rs 72 Cr; Festive Adjusted LFL +6%, Reduction in losses led by productivity improvement
• First Citizen member base expanded to 14 Mn, highest ever enrollment of premium Black Card at 40K
• Opened 7 new stores - Department 4, Beauty Boutique 2, and MAC SIS 1; Capex Investment Rs 39 Crs
• Outright Inventory reduction of Rs 78 Cr YoY
• Net Debt reduction of Rs 82 Cr; On track to become debt free by Q3FY27

Financial Results in detail

Management Comments:

Commenting on the Q2FY27 results, Mr. Kavindra Mishra, MD and CEO, Shoppers Stop Ltd, said,

"We are pleased to report a strong performance in Q2, despite the festive season shifting largely to Q3 this year. Our Consolidated Non-GAAP revenue grew 7% YoY to Rs 1,618 Cr, while EBITDA increased 56% YoY to Rs 43 Cr.

More importantly, we delivered a meaningful turnaround in profitability, with Consolidated PAT turning positive at Rs 6 Cr compared to a loss of Rs 7 Cr in the last year and Standalone PAT also turning positive from a loss of Rs 10 Cr in last year, reflecting the strength of our operating leverage and the successful execution of our Shoppers Stop 2.0 strategy.

The Department Store business delivered revenue of Rs1,302 Cr with festive-adjusted LFL growth of 7%, demonstrating healthy underlying demand. Our New Ventures profitability also improved, with losses reducing by Rs 8 Cr, driven by higher INTUNE productivity and integration of SSBeauty.in with SS.com and we are confident of reducing the losses further.

The demand momentum witnessed in Q1 sustained through Q2, supported by encouraging consumer sentiment and healthy traction during Rakshabandhan and Onam. The build-up to Pujo and Dussehra has also been encouraging across key markets.

Our continued focus on premiumization, experiential retail, inventory discipline and operational excellence is resonating well with customers and strengthening the quality of growth. We remain committed to prudent capital allocation, further improving profitability, and achieving our goal of becoming debt-free by the end of Q3."

Update on our Strategic Priorities:

First Citizen: First Citizen recorded contribution of 84%. The member base expanded to 14 million, supported by strong enrolments across tiers, with highest ever 40K Premium Black Card (+24% YoY) at a renewal rate of 66% and 208K Silver Card additions during the quarter. The Black Card segment contributed 22% of total sales, reflecting deeper engagement with premium customers

• Beauty: The Beauty segment reported sales of Rs 367 Cr, delivering 18% YoY growth, led by a strong performance in the
• fragrance category, which grew 35% YoY. Customer engagement remained robust, supported by 200K+ makeovers and 500+
• masterclasses

• Private Brands: Premiumisation in Private brand portfolio continues. “FRATINI Girl”- premium apparels line for young girls
• now available at 95 stores. Premium “Bandeya”range scaled to 60 stores with price range expanded to Rs 4999/-. Initial
• response encouraging. Inventory reduced by 26% YoY

• Store Expansion: In Q2, we launched 7 Stores - 4 Department, 2 Beauty Boutique and 1 MAC SIS with Capital investment of Rs
• 39 Cr. In H1 we opened 15 Stores - 6 Department, 5 Beauty Boutique, MAC-1 Standalone and 3 SIS Stores with capital
• investment of Rs 83 Cr

• INTUNE: Our Value fashion format, reported sales of Rs 22 Cr, Festive Adj. LFL Sales growth of 6% YoY. New price point of Rs
• 1,299/- is showing encouraging traction. Overall Inventory reduced by Rs 33 Cr YoY; witnessed Margin expansion driven by
• fresher inventory. 

• Campaigns and Collabs:
• Continue to grow “Brand Love” through our campaigns “Gifts Of Love”, “Denim Decode”, “Lip Land” driving consistent
• improvement in Customer footfall .
•  
• Shoppers Stop × RBL bank - Co Branded Credit card launched, offering differentiated rewards & privileges STOP X PETER
• ENGLAND - Exclusive menswear collaboration, delivering exceptional quality, contemporary style and greater
• value for our customers.