Shoppers Stop Ltd has closed its two Shoppers Stop stores located at Orion East Mall, Banaswadi, Bengaluru and The Grant Mall, Velachery, Chennai due to lower than expected business and its low profitability.
The sales from these stores for the last financial year 2018-19 were, as under:
Store Sales and % of the turnover of the Company as on March 31, 2019:
1. Orion East Mall, Banaswadi, Bengaluru - Rs. 17.62 Crs constituting 0.4%
2. The Grant Mall, Velachery, Chennai - Rs. 17.36 Crs constituting 0.4%
With the closure of above stores, the Company has now 89 'Shoppers Stop' (including 5 airport stores) under its operations.
Shares of SHOPPERS STOP LTD. was last trading in BSE at Rs.384.35 as compared to the previous close of Rs. 383.9. The total number of shares traded during the day was 75 in over 20 trades.
The stock hit an intraday high of Rs. 384.35 and intraday low of 380.25. The net turnover during the day was Rs. 28725.