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| Exchange Disseminated Time 10/11/2016 16:09:13 | Shoppers Stop Ltd has informed BSE that the Company has closed "Shoppers Stop" stores at Inorbit Mall-Pune and Nirmal Lifestyle-Mulund, due to lower than expected businesses and its low profitability.
During the last financial year, sales from Inorbit Mall-Pune was Rs. 2,491.20 lacs which is 0.66% of the turnover of the Company and sales from Nirmal Lifestyle - Mulund was Rs. 1,667.90 lacs which is 0.44% of the turnover of the Company.
With these closures, the Company has now 81 “Shoppers Stop” (including six airport stores) stores under its operations.
And also, inform that our 51% Subsidiary Company; Hypercity Retail (India) Ltd; has closed “Hypercity” store at Inorbit Mall-Pune due to lower than expected business and its low profitability. The sale from this store for the last financial year was Rs. 1,327.90 lacs which is 1.40% of the turnover of the Hypercity. With the closing of this store, there are now 19 ‘Hypercity’ stores. |
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