Indian retail chain Shoppers Stop is aiming to tap 12 per cent sales growth in current fiscal. The company posted a 20 per cent like-to-like sales growth in the first quarter of the year.
The growth plans have been disclosed by the retailer’s Customer Care Associate and Managing Director, Govind Shrikhande. Likewise, improvement in the profitability is also on the target.
According to Shrikhande, Shoppers Stop further expects 10 per cent like-to-like sales growth (sales growth from same store) in the current fiscal as well. Its omni-channel is all set to prepare by the next quarter of this fiscal.
The preponing of sale period due to Goods and Services Tax (GST) helped Shoppers Stop to note additional 10 per cent sales growth in June. Out of the 20 per cent growth, the retailer already noted 10 per cent sales growth in the April-May period.
“The post GST slowdown in sales that happened in July has started showing signs of improvement this month. The company has witnessed a 22 per cent overall sales growth in first quarter,” he added.
Shrikhande also informed that Shoppers Stop will add four-five more stores in the ongoing fiscal to its existing store count of 79 in India.
The first quarter turned out to be growth-oriented for the retail brand’s online sales as well.