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Shoppers Stop slips on closing HomeStop store in Vashi

Shoppers Stop is currently trading at Rs. 353.10, down by 1.90 points or 0.54% from its previous closing of Rs. 355.00 on the BSE.

The scrip opened at Rs. 348.40 and has touched a high and low of Rs. 353.10 and Rs. 348.40 respectively. So far 58 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 554.90 on 28-Dec-2018 and a 52 week low of Rs. 338.60 on 02-Aug-2019.

Last one week high and low of the scrip stood at Rs. 359.90 and Rs. 339.00 respectively. The current market cap of the company is Rs. 3106.92 crore.

The promoters holding in the company stood at 63.72%, while Institutions and Non-Institutions held 29.85% and 6.43% respectively.

Shoppers Stop has closed its HomeStop store located at Vashi, Navi Mumbai due to lower than expected business and its low profitability. The sales from this store for the last financial year 2018-19 was Rs 8.9 crore constituting 0.2% of the turnover of the company as on March 31,2019. With the closure of this store, the company has now 11 HomeStop stores under its operations.

Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.

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