Shoppers Stop Limited · NSE:SHOPERSTOP
Shoppers Stop — Q3 FY25 Earnings Presentation
48 slides from Shoppers Stop's earnings presentation, Jan 14, 2025
Slide 1: Cover letter to stock exchanges
SHOPPERS STOP SEC/124/2024-25 January 14, 2025 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (East), Mumbai 400 001. Mumbai 400 051. Stock Code : 532638 Stock Symbol : SHOPERSTOP Dear Sir / Madam, Sub.
Slide 2: Press Release: Strong Q3 performance driven by premiumization
Press Release for immediate distribution Delivered Strong Q3 performance, driven by premiumization and other KPI’s Q3 Sales Rs 1311 Cr +9%, EBITDA Rs 262 Cr +20%, PAT Rs 49Cr +37% (GAAP) Consistent improvement in Operational KPI’s ATV +6%, ASP+4% and IPT +2% Premium categories contribution conti
Slide 3: Press release: management comments and strategic pillars
increase in premiumization, and our premium categories contributed 64% of our total revenue. We have improved every KPI’s during the quarter. Our strategic focus is to make Private Brands profitable. I am extremely pleased to say that Private Brands generated healthy margin growth, driven by lower m
Slide 4: About Shoppers Stop Limited
About Shoppers Stop Limited: Shoppers Stop Ltd. is the nation's leading premier retailer of fashion and beauty brands established in 1991. Spread across 109 department stores, the Company also operates 11 premium home concept stores, 85 Specialty Beauty stores of M.A.C, Estée Lauder, Bobbi Brown, Cl
Slide 5: Performance Highlights
PERFORMANCE HIGHLIGHTS FY 25 | QUARTER 3
Slide 6: Contents: Key Highlights
CONTENTS 01 KEY HIGHLIGHTS 02 STRATEGIC PILLARS 03 FINANCIALS
Slide 7: Flagship Store at Inorbit Malad fully operational post renovation
Our Flagship Store at “Inorbit Malad (Mumbai)” is fully operational post renovation Click here for a virtual store experience 3
Slide 8: Premium Beauty Brands at Inorbit Malad, Mumbai
Premium Beauty Brands at Inorbit Malad, Mumbai 4
Slide 9: Driving Success with Premiumisation
DRIVING SUCCESS WITH PREMIUMISATION Premium portfolio contributed 64% in Q3 with +9% YoY growth (Q1 +5%; Q2 +6%) 5
Slide 10: Brand Building Initiatives
BRAND BUILDING INITIATIVES – The premiumization journey is driven by the 3Es of Exclusiveness, Engagement, and Experience. In Q3, we created two Brand IPs – “Gifts of Love” to build on this, which enveloped the above 3Es for our customers during the Festive season. – This was followed up by another
Slide 11: Marketing Campaigns
MARKETING CAMPAIGNS FESTIVE CAMPAIGN WEDDING COLLECTION LAUNCH WINTER MAGIC CAMPAIGN With Marc Robinson @ Ambience Mall, Delhi Reach- 9.8 Mn | Views – 2.4 Mn+ | Clicks – 157 k+ Click here to view the • Click here to view the Fashion show video Click here to view the Campaign video • India Weds Campa
Slide 12: Market Outlook
MARKET OUTLOOK Customer Industry Way Forward – Customers are shifting to – Sustained Green shoots owing – Premiumization to hold its premiumization, a growth driver to good Festive and wedding ground amid inflation spike for the near future season across Indian consumer market. – Increase in Demand
Slide 13: Q3 Highlights and Way Forward
Q3 HIGHLIGHTS WAY FORWARD – Sales +7% and EBITDA +20% – Leveraging regional festivals to drive market-specific 'Idea-to-Go-to-Market' (IGTM) strategies – Premiumization led Increase in Sales – Q3 +7% – Creating Unique Brand-driven occasions to enhance – LFL +4% brand engagement and attract new Custo
Slide 14: Q3 at a Glance
Q3 AT A GLANCE SALES [NON-GAAP] ▪ Rs 1,585 Crs, +7% (LTL +4%) ▪ Watches outperformed, +20% ▪ ATV +6% (Rs 5,374 vs Rs 5,047) led by premiumization ▪ Items per Ticket (IPT) +2% ▪ First Citizen @ 83%, Repeat 69%; New 14% ▪ Personal Shoppers sale contribution improved +8%; Total strength 430 ▪ EBITDA at
Slide 15: Q3 in Numbers
Q3 IN NUMBERS Particulars Non GAAP %Sales GAAP %Sales Revenue 1,585 1,311 EBITDA 110 7.8% 262 20.0% PBT 64 4.6% 68 5.2% PAT 45 3.2% 49 3.7% %Sales is on Sales (Net of GST) 11
Slide 16: YTD Dec in Numbers
YTD DEC IN NUMBERS Particulars Non GAAP %Sales GAAP %Sales Revenue 4,143 3,413 EBITDA 145 4.0% 564 16.5% PBT 16 0.4% 5 0.2% PAT 15 0.4% 4 0.1% %Sales is on Sales (Net of GST) 12
Slide 17: Quarterly Trend (Non GAAP)
QUARTERLY TREND (NON GAAP) Sales +7% Margin 37.1% 37.6% 160 0 150 0 37.6% 140 0 130 0 37.3% 39. 0% 38. 0% 120 0 526 400 1585 110 0 37. 0% 100 0 36. 0% 900 1483 300 1430 392 800 474 484 35. 0% 1190 700 600 34. 0% 200 500 33. 0% 400 300 32. 0% 100 200 31. 0% 100 0 0 30. 0% Q3FY22 Q3FY23 Q3FY24 Q3FY25
Slide 18: Quarterly Trend (GAAP)
QUARTERLY TREND (GAAP) Sales Margin 140 0 +9% 40.9% 130 0 600 40.6% 40.7% 39.7% 120 0 110 0 500 100 0 900 400 800 1207 1311 700 1132 533 300 462 480 600 500 400 951 200 387 300 100 200 100 0 0 Q3FY22 Q3FY23 Q3FY24 Q3FY25 Q3FY22 Q3FY23 Q3FY24 Q3FY25 EBITDA PBT 7.0% 7.5% 8.0 % 21.2% 300 20.8% 20.0% 7.
Slide 19: Operational KPIs Q3
OPERATIONAL KPIs Q3 (Offline only) ATV (Rs/-) ASP (Rs/-) +6% +4% 4737 5047 5374 1776 1819 1899 4340 1576 Q3FY22 Q3FY23 Q3FY24 Q3FY25 Q3FY22 Q3FY23 Q3FY24 Q3FY25 Items per Txn. (Nos.) +2% 2.75 2.67 2.77 2.83 0.0 0 Q3FY22 Q3FY23 Q3FY24 Q3FY25 15
Slide 20: Contents: Strategic Pillars
CONTENTS 01 KEY HIGHLIGHTS 02 STRATEGIC PILLARS 03 FINANCIALS
Slide 21: Strategic Pillars
STRATEGIC PILLARS 11.5 M Rs 268 Crs Rs 186 Crs 16 Stores in Q3 FIRST CITIZEN BEAUTY PRIVATE BRANDS EXPANSION INTUNE-9 83% 17% 12% Beauty-6 Dept-1 Contribution 17
Slide 22: First Citizen
FIRST CITIZEN Sales contribution First Citizen Mix% Gr% Repeat% Gr% Overall Sales 83% 411 bps 69% 267 bps Black Card Members – Contribution 17% to Overall Sales (Highest ever) – Sales Growth 28% – Highest ever black card enrollments and renewals during the quarter Customer Engagement – Digitization
Slide 23: Private Brand
PRIVATE BRAND Sales Rs.186 Crs – PB Contribution – Overall 12% – Apparels 18% – Sales Flat with focus on optimized offers and lower obsolescence resulting in – Improved Intake margin – Higher GMROF – Women’s Ethnic Wear brand “Kashish” continues to be No.1 in Indian Women’s category Sales and Contri
Slide 24: INTUNE
INTUNE Sales Q3 Rs 63 Crs YTD Rs. 138 Crs – 59 Stores in 25 Cities across regions – Strong Diwali season; Gujarat Market outperformed – Kids wear continues to outperform – Hired 300+ undergraduates under NPAS scheme of Govt. (Apprentices Act, 1961) – Expected to open 85 stores by FY25 end. Store ope
Slide 25: INTUNE Expansion
INTUNE EXPANSION Store count As on Planned As on Region Market Sep'24 Dec'24 Additions Q4 FY25 AP/TL 8 10 6 16 South Karnataka 9 10 2 12 Kerala 2 2 2 Gujarat 11 14 14 West Maharashtra 8 9 1 10 MP/Rajasthan 3 3 NCR 10 12 5 17 North Chandigarh 1 1 UP/Uttarakhand 6 6 East East 2 2 2 4 Grand Total 50 59
Slide 26: Beauty
BEAUTY Beauty Business Network Sales Rs. 332 Crs. +6% Offline Count Rs. 268 Crs. +3% (excl. Distribution) Department stores 109 Fragrance +14% (Highest Qtr. Sales) EBOs (incl. SSBeauty) 85 Shop-in-shop 61 Store Launch Online – Launched 3 premium ARMANI Beauty boutique stores Shoppersstop.com SSBeaut
Slide 27: New Brands Launched
NEW BRANDS LAUNCHED Max Factor X Priyanka Chopra Jonas “Bloom MAKEUP FULL LINE collection” exclusive launch with Shoppers Stop GLIMPSE INTO THE LAUNCH EVENT SKINCARE & HAIRCARE 23
Slide 28: Beauty Distribution
BEAUTY DISTRIBUTION Sales Q3 Rs. 78 Crs +26% YoY YTD Dec Rs. 169 Crs +69% YoY Improving Sales Trend QoQ 78 62 52 39 23 15 Q1 Q2 Q3 FY24 FY25 INORBIT MALAD, MUMBAI 24
Slide 29: ARMANI Beauty stores launched
3 ARMANI Beauty stores launched 1. DLF Promenade, Delhi 2. Mall of Asia, Bangalore 3. JIO World Drive, Mumbai • Launch video of DLF Promenade store with Athiya Shetty 25 • Master class event clip at Jio World Drive, BKC, Mumbai with influencers
Slide 30: JOYOLOGY
JOYOLOGY JOYOLOGY – – Bold, independent brand redefining beauty with innovation, inclusivity, and joyful self-expression – Hydra-Berry Technology delivering hydration, long wear, and vibrant results – 64 SKUs (Lips, Eyes, Face) crafted for Millennials and Gen Z – Available at E-comm platforms & 45+
Slide 31: HomeStop
HOMESTOP Sales Rs. 46 Crs +10% YoY − Black card contribution +26% Q1 Q2 Q3 − Personal Shopper contribution on rise 24% 27% 29% New Brands launched COOKWARE 27
Slide 32: Expansion
EXPANSION Additions Expected As on Planned Store Count As at H1 Q3 31st Dec'24 in Q4 31st Mar'25 Department 3 1 109 6 115 Beauty SSBeauty 5 17 17 Brands 1 68 68 INTUNE 28 9 59 26 85 HomeStop 5 11 11 Airport 20 20 Total 36 16 284 32 316 As on 31st Dec 2024 Area 4.3M sq.ft. City Presence 68 Cities Inv
Slide 33: Shoppers Stop - Pramila Square, Silchar
SHOPPERS STOP- PRAMILA SQUARE, SILCHAR 29
Slide 34: SS Beauty Fragrance - Nexus Mall Bangalore
SS BEAUTY FRAGRANCE- NEXUS MALL BANGALORE 30
Slide 35: SS Beauty - R Cube Noida
SS BEAUTY- R CUBE NOIDA 31
Slide 36: Contents: Financials
CONTENTS 01 KEY HIGHLIGHTS 02 STRATEGIC PILLARS 03 FINANCIALS
Slide 37: KPI Performance - Q3
KPI PERFORMANCE-Q3 Vs Q3 FY24 (Rs Crs) +7% 50 bps 21% Sales Gross Margin EBITDA Non 1585 526 110 GAAP GAAP 1311 533 262 +9% 90 bps 20% 33
Slide 38: KPI Performance - YTD Dec
KPI PERFORMANCE-YTD DEC Vs YTD FY24 (Rs Crs) +4% 10 bps (23%) Sales Gross Margin EBITDA Non 4143 1368 145 GAAP GAAP 3413 1379 564 +6% (40 bps) (1%) 34
Slide 39: Financials Q3 FY25
FINANCIALS Q3 FY25 Particulars Non - GAAP Financials GAAP Financials Rs. in Crs. FY25 FY24 Gr% FY25 FY24 Gr% Gross Revenue 1585 1483 7% 1475 1362 8% Net Revenue 1399 1306 7% 1311 1207 9% Other Income 29 22 33% 22 3 568% Total Revenue 1428 1327 8% 1334 1210 10% Margin 526 484 9% 533 480 11%
Slide 40: Financials YTD Dec FY25
FINANCIALS YTD DEC FY25 Particulars Non - GAAP Financials GAAP Financials Rs. in Crs. FY25 FY24 Gr% FY25 FY24 Gr% Gross Revenue 4143 3996 4% 3837 3614 6% Net Revenue 3659 3521 4% 3413 3213 6% Other Income 70 67 5% 36 21 68% Total Revenue 3729 3588 4% 3449 3235 7% Margin 1368 1313 4% 1379 1
Slide 41: Balance Sheet (Non-GAAP)
BALANCE SHEET (Non-GAAP) Particulars (Rs. In Crs.) Dec’24 Mar’24 Net worth 804 785 Loan Fund 99 125 Total Liabilities 903 910 Fixed Assets + Lease Deposit 888 864 Investments 60 59 Inventory* 1993 1617 Other Assets 579 552 Total Current Assets 2475 2070 Trade Creditors Goods* 2129 1678 Others 488 5
Slide 42: Cash Flow
CASH FLOW Particulars Dec’24 Dec’23 Cash Profit from Operations (after tax) 142 185 Changes in Working Capital 48 59 Cash generated from Operations 189 244 Fixed Assets /Reduction in Capex Creditors* -161 -161 Cash generated from Operations 29 83 Redemption of Investments (Net) -1 3 Cash post Inves
Slide 43: Way Forward
WAY FORWARD OUTLOOK PRIORITIES – Premiumization continue to lead growth for Q4 and – Effective and Profitable Capital Allocation. FY26 – Drive premiumization through – Strong wedding calendar from mid Jan to continue – Engage customers through Strong IP’s such as “Gifts of Love”, “India Weds,” etc t
Slide 44: Annexures
ANNEXURES 40
Slide 45: Financials Q3 FY25
Particulars Non GAAP GAAP Rs. in Crs. FY25 FY24 Gr% FY25 FY24 Gr% Gross Revenue 1585 1483 7% 1475 1362 8% Net Revenue Other Income 1399 29 1306 22 7% 33% 1311 22 1207 3 9% 568% FINANCIALS Total Revenue Margin 1428 526 1327 484 8% 9% 1334 533 1210 480 10% 11% Q3 FY25 Margin% 37.6% 37.1% 50
Slide 46: Financials YTD Dec FY25
Particulars Non GAAP GAAP Rs. in Crs. FY25 FY24 Gr% FY25 FY24 Gr% Gross Revenue 4143 3996 4% 3837 3614 6% Net Revenue 3659 3521 4% 3413 3213 6% Other Income 70 67 5% 36 21 68% FINANCIALS Total Revenue Margin 3729 1368 3588 1313 4% 4% 3449 1379 3235 1312 7% 5% YTD DEC FY25 Margin% 37.4% 37.
Slide 47: As on 31st Dec'24
As on 31 st Dec’24 284 Stores 11.5 Mn 800+ FIRST CITIZENS BRANDS 12% Mix 17% Mix PRIVATE BRANDS BEAUTY 4.3 M 68 SQUARE FEET CITIES AREA 13 Mn CUSTOMER ENTRY in Q3 (1) Inorbit Mall Malad, Mumbai 21.3K TALENT POOL 43 1. Includes Brand staff
Slide 48: Disclaimer
DISCLAIMER Certain statements in this release concerning our future growth prospects are forward-looking statements within the meaning of applicable securities laws and regulations, and which involve number of risks and uncertainties, beyond the Control of the company, that could cause actual result