Q2 2026 Shoppers Stop Ltd Earnings Call Transcript
Key Points
- Shoppers Stop Ltd (BOM:532638) reported a significant improvement in its core business, with a 42% growth and a turnaround from a loss of 12 crores to a profit of 9 crores.
- The company's premium product mix grew by 16%, contributing to a 375 basis points gain and now accounts for 69% of the total mix.
- The First Citizen Club has strengthened, with 13 million members contributing to 83% of total sales, up 270 basis points.
- Beauty segment continues to outperform, with a 22% increase, led by fragrances.
- The company's distribution business, Global Essence Beauty, grew impressively by 103% year-on-year, marking a significant milestone in their strategic focus on beauty.
- The value fashion segment, particularly the Intune brand, is still in the investment phase and incurring planned losses.
- Despite improvements, the EBITDA margin for the core business remains low at 3.3% for the first half, which is below the mid to high single-digit guidance.
- Store openings have been delayed, with only 5 departmental stores expected to open in the current quarter, impacting growth potential.
- The beauty segment's standalone stores are facing strong headwinds, impacting profitability.
- The company has not provided dividends or significant returns to shareholders in recent years, leading to concerns among retail investors.
Ladies and gentlemen, good day and welcome to Q2 and H1F 26 earnings conference call of Shopperop Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing 0 on your touchtone phone. Please note that this conference is being recorded. I now have the conference over to Mr. Pratik Patel from Tenor Creative and Mr. Li's team.
Thank you and over to you Mr. Patti.
Thank you.
Thank you for joining us on the earnings conference call with the senior management by associate, managing director and Chief Executive Officer associate Chief Financial Officer. We will begin the call with the opening remarks from the management, after which we will have the forum for the interactive.
I must remind you that the discussion in forwards and therefore in conjunction with the risk that the
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