Despite facing muted consumer spending, Shoppers Stop delivered a strong Q3 with a 7 per cent Y-o-Y sales growth to Rs 1,207 crore. The beauty segment emerged as the star performer, growing a remarkable 10 per cent led by fragrances and makeup.. This contributed to an overall beauty mix of 18 per cent.

Shoppers’ Stop’s fragrance sales soared 41 per cent, while makeup sales surged by 6 per cent pushing the beauty segment to 18 per cent of the overall mix.

Driven by premiumzation,  average transaction value by grew 6 per cent, suggesting customers are willing to spend more on quality items.

The ‘Fashion for all’ format, Intune, continues to impress with four new stores added this quarter, bringing the total to 10. Full price sell-thru remained strong at 65%, and plans are in place for 14 more stores by FY24 end.

 Shoppers Stop is on track to meet its FY24 target, adding 13 stores in Q3 across various formats (department, beauty, Intune, and airport). The retailer’s 

 GAAP EBITDA is  lower than last year due to one-time income adjustments and inventory obsolescence provisions. However,  the company remains debt-free with a net cash surplus of Rs 40 crore.