Shoppers Stop Ltd (NSE:SHOPERSTOP)

Q3 2026 Shoppers Stop Ltd Earnings Call Transcript

Jan 20, 2026 / 05:30 AM GMT

Release Date Price: ₹341.75 (-6.23%)

Transcript

Key Points

Positve

Shoppers Stop Ltd (BOM:532638) reported a successful 'Wedding with Shopper Stop' campaign, which significantly boosted their promotion mix from 65% to 69%.
The company saw a steady increase in the share of non-apparel categories, indicating a broader customer engagement beyond just apparel.
Customer entries grew by 5% despite a challenging operating environment, and new customer acquisition remained strong at 40% of total customers.
The beauty segment showed robust growth, with beauty sales increasing by 14%, driven by fragrances and a strong distribution business.
The distribution business delivered a strong performance with a 58% revenue growth, reflecting the strength of their portfolio and improved execution.

Negative

The overall operating environment during the third quarter was sluggish, with consumer sentiment remaining cautious, impacting demand.
Like-for-like sales declined in October, were flat in December, and overall sales for the quarter remained flat.
The company faced challenges with inventory management, particularly in the Intune segment, which affected product freshness and sales.
Gross margin contracted by 111 basis points due to early end-of-season sales in Intune and higher provisions in private brands.
Despite efforts in premiumization, the company struggled with conversion rates, which remained a challenge in driving overall sales growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SHOP.NS - Shoppers Stop Ltd
Q3 2026 Shoppers Stop Ltd Earnings Call
Jan 21, 2026 / 05:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Q3 and 9 month F526 earnings conference call of Shopper Stop 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 10 on your touchstone form. Please note that this conference is being recorded. I now want to conference over to Mr. Prane Prem Kumar from 10 to 1 Investigations Team.

Thank you and over to you, Mr. Prem Kumar.

Thank you, Renju.

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Unidentified_2 [2]
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