Shoppers Stop forecasts festive quarter to top pre-pandemic levels
2 years, 2 months ago

Shoppers Stop forecasts festive quarter to top pre-pandemic levels

Live Mint  

India's Shoppers Stop said on Thursday its sales for the festive season would beat pre-pandemic levels on demand for gifts as well as occasion and winter wear from the country's affluent, after reporting a 60% jump in quarterly revenue. Shoppers Stop would report sales growth in the mid- to high-teens percentage range, compared with pre-COVID sales growth levels, with stores in east India outperforming the rest of the country, Chief Executive Officer Venu Nair said in an interview with Reuters. To cash in on what is expected to be a busier-than-normal festive season, Shoppers Stop doubled its purchase of inventory during the second quarter, with expenses climbing 40%. Net income was 181.4 million rupees, versus a loss of 30.3 million rupees a year earlier, but the profit came in below the average estimate of four analysts polled by Refinitiv.

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History of this topic

Retailers To Log Growth Of 10-12%, E-Commerce Firms To See 28% Surge In Sales In Festive Season
1 year, 2 months ago

Retailers To Log Growth Of 10-12%, E-Commerce Firms To See 28% Surge In Sales In Festive Season

ABP News  

Retailers expect 10-12 per cent growth in sales during the festive season this year on account of an upward projection in consumer sentiment, a report by Wright Research said. The report also noted that e-commerce firms are expected to report a 28 per cent increase in sales during the period. Wright Research’s founder, Sonam Srivastava, said, “We The festive season …

NRF: Holiday sales to slow from last year’s blistering pace
2 years, 1 month ago

NRF: Holiday sales to slow from last year’s blistering pace

Associated Press  

NEW YORK — The National Retail Federation, the nation’s largest retail trade group, expects holiday sales growth will slow to a range of 6% to 8%, compared with the blistering 13.5% growth of a year ago. The forecast is in line with a slew of holiday forecasts from various research and consulting firms point to a sales slowdown from last …

Data Point | After two years, people are actually “celebrating” a festival season
2 years, 2 months ago

Data Point | After two years, people are actually “celebrating” a festival season

The Hindu  

Two years since the pandemic outbreak, consumers are “revenge shopping” and travelling more this year The beginning of autumn in India also marks the beginning of the festival season. Data from the Federation of Automobile Dealers Associations of India shows that after two uninspiring festival seasons, vehicle sales in the 2022 season have exceeded the pre-pandemic levels. The data point …

Retail Sales in Shopping Malls to Grow 29% Annually to Reach $39 Billion by FY28: Report'
2 years, 3 months ago

Retail Sales in Shopping Malls to Grow 29% Annually to Reach $39 Billion by FY28: Report'

News 18  

New Delhi: Retail sales in shopping malls across top eight cities are expected to grow 29 per cent annually to reach USD 39 billion by 2027-28 fiscal on consumption growth and opening of new malls, according to a property consultant. “The organised retail sales volume in the top 8 Indian cities is estimated to grow at a CAGR of 17 …

Retailer revenues up 30% in December quarter: report
2 years, 10 months ago

Retailer revenues up 30% in December quarter: report

Live Mint  

India’s top retailers—across fast food, apparel wear and jewellery reported strong recovery in sales with overall revenues up 30%, according to a report by brokerage Edelweiss Securities. The report mapped December quarter earnings of large, listed companies such as Titan Company Ltd, Jubilant Foodworks, Aditya Birla Fashion Retail, V-Mart Retail, Shoppers Stop, among others. Meanwhile, all QSR companies surpassed their …

Appliance sales spurt 30 per cent in Navratri season; e-commerce contribution rises
4 years, 1 month ago

Appliance sales spurt 30 per cent in Navratri season; e-commerce contribution rises

India TV News  

Appliances and consumer electronics companies have reported high double-digit growth in sales during this Navratri season, with e-commerce platforms seeing good traction as shoppers opt for contactless buying. Leading manufacturers like Sony, LG and Panasonic have reported over 30 per cent jump in sales year-on-year during the 10 days of Navratri and Dussehra this festive season. "We have seen a …

There was no other answer but to exit biz, says Biyani
4 years, 2 months ago

There was no other answer but to exit biz, says Biyani

Live Mint  

A series of acquisitions over the last few years, compounded by the covid-19 crisis, prompted Kishore Biyani to sell his chain of retail stores, warehousing and logistics businesses to Reliance Retail in a slump sale amounting to ₹24,713 crore earlier this year. Biyani, who sold the retail business comprising 1,800 grocery, lifestyle and apparel formats, including Big Bazaar, Foodhall, Fashion …

Pandemic-led buying to push online festive sales to touch $7bn GMV
4 years, 3 months ago

Pandemic-led buying to push online festive sales to touch $7bn GMV

Live Mint  

Bengaluru/New Delhi: E-commerce companies are gearing up for bumper festive season sales this year, over the next two months, with consumers expected to continue shopping online due to the pandemic. Festive season sales are expected to almost double in the next two months alone and touch $7 billion in gross merchandise value, compared to $3.8 billion in GMV sales in …

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