Q1 2025 Shoppers Stop Ltd Earnings Call Transcript
Key Points
- Shoppers Stop Ltd (BOM:532638) reported a 2% growth in Q1 sales, reaching INR1,260 crores.
- The Premium Brands product portfolio grew by 10% on a like-for-like basis and overall growth of 14% for the quarter.
- Beauty and INTUNE verticals remained EBITDA positive during this quarter.
- The company opened 11 new stores during the first quarter, including two departmental stores and nine INTUNE stores.
- Shoppers Stop Ltd (BOM:532638) achieved a milestone of 10 million First Citizen members, with loyal members contributing 80% to sales.
- Demand remained subdued due to fewer wedding days, a long election season, and a strong heatwave, impacting overall growth.
- EBITDA margin declined due to new stores taking time to turn profitable.
- Customer entries largely remained flat during the quarter.
- Gross margins were largely flat versus FY24, with some offset by the mix.
- The company may need to borrow approximately INR100 crores during the year due to softness in Q1.
Ladies and gentlemen, good day, and welcome to the Q1 FY25 earnings conference call of Shoppers Stop Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Mamta Samat from Perfect Relations. Thank you, and over to you, ma'am.
Thank you, Sejal. Good morning, and thank you all for joining us on the Shoppers Stop quarter-one FY25 earnings conference call. Today, we have with us the senior management represented by Mr. Kavindra Mishra, Customer Care Associate, Managing Director and CEO; Mr. Karunakaran Mohanasundaram, Customer Care Associate, Chief Financial Officer.
We will begin the call with the opening remarks from the management, after which we will have the forum open for the interactive Q&A session. I must remind you that the discussion in today's earnings call may include certain forward-looking statements and must be viewed, therefore, in conjunction with the risks that the company faces. (Operator Instructions)
I will
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