Shoppers Stop narrowed its consolidated net loss to ₹14.25 crore for the quarter ended June 30, 2026, from ₹15.74 crore in the corresponding period of the previous year. On a non-GAAP basis, the retailer reported a net profit of ₹5 crore compared to a loss of ₹4 crore in Q1FY26. Revenue from operations increased to ₹1,291.41 crore, up from ₹1,161.08 crore in the same period last year, while non-GAAP sales reached ₹1,536 crore, growing 10% year-on-year.

The Board of Directors approved the unaudited financial results for the quarter at a meeting held on July 22, 2026. The statutory auditors, S R B C & CO LLP, issued an unmodified limited review report. However, the auditors included an emphasis of matter paragraph regarding the non-provisioning of a retrospective levy of service tax for the period from June 1, 2007, to March 31, 2010. The aggregate amount in dispute is ₹20.11 crore in the consolidated results and ₹16.60 crore in the standalone results, pending final disposal of an appeal before the Supreme Court.

Financial Performance

The company's financial performance for the quarter is summarized below:

Operational Updates

During the quarter, Shoppers Stop opened eight new stores, comprising two department stores, four beauty stores, and two INTUNE stores, with a capital investment of ₹44 crore. The retailer reduced its outright inventory by ₹80 crore YoY and achieved a debt reduction of ₹93 crore compared to June 2025. The First Citizen loyalty program member base expanded to 13.8 million, contributing 85% to total sales.

Shoppers Stop will hold a meeting with representatives from Emkay Investment Managers Ltd on July 27, 2026, at 3:30 p.m. The senior management of the company will engage with the investors in person to discuss business matters. The company clarified that no unpublished price sensitive information is proposed to be shared or discussed during this meeting.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The presentation scheduled for the meeting will be made available for access. This information has been published on the corporate website of Shoppers Stop Limited under the disclosures section.

Meeting Details

The schedule for the meeting remains subject to change depending upon exigencies. Rakeshkumar Sanwarmal Saini, Vice President – Legal, CS & Chief Compliance Officer, signed the disclosure on behalf of the company.