Shoppers Stop Q3 Results | Profit plunges 22-fold; festive weakness, pollution leave sales flat

Multi-brand fashion retailer Shoppers Stop Ltd on Tuesday (January 20) reported a steep decline in its third quarter net profit, which fell to ₹16.1 crore from ₹352.2 crore in the corresponding quarter of the previous year — a drop of nearly 22-fold.

Revenue for Q3 grew 2.6% to ₹1,415 crore, compared with ₹1,379 crore in the same period last year. EBITDA for the quarter declined 11.1% to ₹217.8 crore, down from ₹245 crore in Q3FY25. The EBITDA margin also fell to 15.4% from 17.7% in the corresponding

quarter.

Shoppers Stop reported flat overall sales for the third quarter, impacted by shifts in the festive calendar, uneven discretionary demand, and elevated pollution levels in North India. Despite these challenges, the company continued to strengthen its premium portfolio, which recorded steady like-for-like growth and increased its contribution to total sales.

Also Read: Shoppers Stop Q2 loss inches down; beauty, private brands lift revenue 13%

Premium brands contributed 69% of total sales, growing 6% year-on-year, with like-for-like growth also at 6%. The company’s core business sales stood at ₹1,516 crore, remaining flat compared with the same period last year.

The beauty segment posted sales of ₹395 crore, registering 14% year-on-year growth, while INTUNE sales grew 22% year-on-year to ₹77 crore. Average transaction value (ATV) and average selling price (ASP) both increased by 7%. Customer entry rose 5% on a like-for-like basis, marking the second consecutive quarter of growth.

During Q3FY26, Shoppers Stop expanded its retail footprint with the opening of three department stores, three INTUNE stores, and one HomeStop store. Capital expenditure for the quarter was ₹35 crore, taking the year-to-date capex to ₹89 crore. The company reduced working capital during the quarter, while net debt remained stable at ₹90 crore.

Also Read: Shoppers Stop eyes profitability in FY26 on back of premiumisation and efficiency gains: CEO Kavindra Mishra

Kavindra Mishra, Managing Director and CEO, Shoppers Stop, said, "Q3 was marked by external factors such as festive calendar shifts and uneven consumption trends, which weighed on overall sales. However, we continued to make steady progress on our strategic priorities. Premium brands grew on a like-for-like basis and now account for 69% of our total sales, reinforcing the direction of our portfolio shift.”

The re-launch of our Juhu store as one of India’s most premium experiential retail destinations reflects our long-term commitment to differentiated customer experiences. Categories such as beauty, handbags, and watches continue to scale well, and our beauty distribution business has delivered strong year-on-year growth."

Shares of Shoppers Stop Ltd ended at ₹362, down by ₹10.10, or 2.71%, on the BSE today, January 20.