Shoppers\' Stop stares at FY21 loss on lower footfall\, higher costs

Shoppers' Stop stares at FY21 loss on lower footfall, higher costs

The FY21 cut was prompted by indications that the June quarter has been a complete wash out and the outlook in the coming quarters will be weak given the economic downturn

Topics
Shoppers Stop Q4 results | Shoppers Stop | Q4 earnings

Ram Prasad Sahu  |  Mumbai 

The Shoppers’ Stop stock has shed 1.3 per cent in trade after reporting a weak operational performance in the March quarter. Sentiment in the near term would also be impacted given the sharp downward revision to operating profit estimates for FY21.

The company’s operating profit, which came in at Rs 180 crore in FY20, could drop into negative territory on the back of muted sales and higher fixed costs. The FY21 cut was prompted by indications that the June quarter has been a complete wash out and the outlook in the coming quarters will be weak given the economic downturn. ...
First Published: Wed, June 17 2020. 18:42 IST