India‘s Shoppers Stop on Wednesday posted a 83.2% fall in second quarter profit as the department store was hit by rising expenses and weaker demand, with customers delaying purchases of clothes and cosmetics due to a late festive season. The festive season in India – which started in September last year – brings in the…
Premier retailer Shoppers Stop Managing director and Chief Executive Officer, Venugopal G. Nair tendered his resignation with effect from the close of business hours of August 31, 2023, due to personal reasons, the company announced on Thursday. The board of directors accepted Nair’s resignation to enable him “to spend more time with his family and…
Sales at Lifestyle International, the company that runs an eponymous department chain in India, grew 46% in the year to March 2023 to Rs 11,810 crore. According to financials sourced from Tofler, Lifestlye International reported a net profit of Rs 700 crore during 2022-23. This is a 160 % increase from the last financial year….
Representative Image With Indian consumers continuing to go slow on discretionary spending amid sticky inflation, companies across segments in the country are reporting tepid numbers. Lukewarm demand trends have become the norm for businesses ranging from fashion retailers to quick service restaurant (QSR), ToI reported on August 17. The demand situation is posing a challenge,…
