BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
On account of Covid-19 led disruptions in January, Shoppers Stop Ltd. reported a subdued performance in Q4 FY22.
The revenue recovery rate, which had gradually inched up to 96% of pre-Covid levels in Q3 FY22, declined to 90% in Q4 FY22. On a favourable base, revenue grew 6% YoY to Rs 709.9 crore.
Nevertheless, customer footfall in the second half of Q4 FY22 witnessed a sharp recovery with sales near pre-Covid levels. Furthermore, the healthy momentum continued in April with sales treading higher than pre-Covid levels (double digit growth).
Shoppers Stop's management indicated that if not for Omicron impact, revenue in Q4 would have increased by 28% YoY.
Average selling price improved ~17% YoY to Rs 1366 driven by premiumisation mix and price hikes (8-10%). Subsequently, average transaction size improved 17% to Rs 4062.
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