SHOPERSTOPNSE18 January 2024

Shoppers Stop Limited has informed the Exchange regarding a press release dated January 18, 2024, titled "Press Release and Investor Presentation for the quarter and nine months ended December 31, 202...

Shoppers Stop Limited

SHOPPERS STOP

January 18, 2024

National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Stock Symbol : SHOPERSTOP

SEC/113/2023-24

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001. Stock Code : 532638

Dear Sir / Madam,

Sub.: Press Release and Investor Presentation for the quarter and nine months ended December 31, 2023

Please find enclosed Press Release and Investor Presentation dated January 18, 2024 for the captioned subject.

information

This https://corporate.shoppersstop.com/investors/.

is also being made available on the corporate website of the Company

i.e.

Kindly take the above on record.

Thank you.

Yours truly, For Shoppers Stop Limited

Vijay Kumar Gupta Vice President- Legal, Company Secretary & Compliance Officer ACS No: 14545 Encl: A/a

Registered & Service Office : Umang Tower, 5th Floor, Mindspace, Off. Link Road, Malad (W), Mumbai 400 064, Maharashtra. T 022- 42497000 CIN : L51900MH1997PLC108798. Email : customercare@shoppersstop.com Website: www.shoppersstop.com

Toll Free No.:1800-419-6648 (9 am to 9 pm).

Shoppers Stop Limited

PERFORMANCE HIGHLIGHTS Q3 FY24

1 KEY HIGHLIGHTS

2 STRATEGIC PILLARS

3 FINANCIALS

MARKET OUTLOOK

Customer

Industry

Omni Channel

Expansion

▪ Premium or

Aspirational brands continue to outgrow, both pre and post festive period

▪ Customers allure for stronger brands, evinced by strong growth during festive

▪ Value Retail shifting from

Unorganized to Organized, corroborated by expansion

▪ Omnichannel customers tend to spend 3X more than single channel customers

▪ Online platforms’ repeat

purchases on rise

▪ Indifferent monsoon,

late onset of winter and general slowdown impacted consumption

▪ Strong growth in Non Apparel categories

▪ Global brands looking to join growth curve with India expected to become the 3rd largest consumer market*

▪ Malls expected to

attract investment of more than 20K Crs over next 3-4 years*

*Economic Times: 13th Dec /4th Jan

Q3 HIGHLGHTS

– Sales Rs 1,484 Crs, +4%

– Festive LTL growth 4%

– ATV +6% (Rs 5,047 vs Rs 4,775), due to premiumization

– Items per Ticket (IPT) +5%

– First Citizen @ 78%, Repeat 65% /New 13%

– Beauty outperformed +10%, led by Fragrance +41%; Make up +6%; Strong Customer engagement with 266K Makeovers

– Non-Apparel +5%, led by Home +11%, Handbags +9%

Q3 IN NUMBERS

(Non GAAP)

Rs 1,484 Crs

+4%

Rs 91 Crs

Rs 54 Crs

Rs 40 Crs

6.9% of Sales

4.2% of Sales

3.1% of Sales

Financials

Revenue

EBITDA

PBT

PAT

Expansion

– 13 Stores Opened 4 Department + 4 Beauty + 4 Intune + 1 Airport

– Capex and Deposits

Rs 51 Crs

YTD IN NUMBERS

(Non GAAP)

+3%

5.4% of Sales

2.0% of Sales

1.4% of Sales

Rs 3,996 Crs

Rs 189 Crs

Rs 71 Crs

Rs 51 Crs

Financials

Revenue

EBITDA

PBT

PAT

Expansion and Renovation

– 33 Stores Opened

8 Department + 15 Beauty/Others + 10 Intune

– Renovated

4 Department + 1 Home Stop + 5 Beauty

– Capex and Deposits

Rs 162 Crs

QUARTERLY TREND

(Non-GAAP) (Rs in Crs)

Sales

+4%

1300

1190

1430

1484

Margin

37.6%

37.3%

37.8%

37.1%

431

392

474

484

600

500

400

300

200

100

40.0%

39.0%

38.0%

37.0%

36.0%

35.0%

34.0%

33.0%

32.0%

Q3FY20 Q3FY22 Q3FY23 Q3FY24

EBITDA*

9.5%

10.2%

8.9%

102

100

128

PBT*

7.2%

4.6%

6.0%

6.9%

14.0%

12.0%

10.0%

8.0%

6.0%

4. 0%

2.0%

0.0%

100

4.2%

5.0%

0.0%

Q3FY20 Q3FY22 Q3FY23 Q3FY24

1600

1500

1400

1300

1200

1100

1000

900

800

700

600

500

400

300

200

100

*FY23 numbers include reversal of Interest on GST Rs.17 Crs in other income and Rs.3 Crs in finance cost

QUARTERLY TREND Sales

700

Margin

+7%

(GAAP) (Rs in Crs)

42.6%

40.9%

39.7%

40.6%

424

387

462

480

600

500

400

300

200

100

994

951

1132

1207

Q3FY20 Q3FY22 Q3FY23 Q3FY24

EBITDA

20.5%

20.8%

21.2%

18.1%

204

198

240

219

25.0%

23.0%

21.0%

19.0%

17.0%

15.0%

13.0%

100

PBT

7.0%

7.5%

4.4%

4.1%

Q3FY20 Q3FY22 Q3FY23 Q3FY24

1600

1500

1400

1300

1200

1100

1000

900

800

700

600

500

400

300

200

100

350

300

250

200

150

100

46.0%

44.0%

42.0%

40.0%

38.0%

36.0%

34.0%

8.0%

7.0%

6.0%

5.0%

4.0%

3.0%

2.0%

1.0%

0.0%

OPERATIONAL KPIs

Items per Txn. (Nos.)

+5%

2.7

2.9

3.1

0.0

6500

6400

6300

6200

6100

6000

5900

5800

5700

5600

5500

5400

5300

5200

5100

5000

4900

4800

4700

4600

45 00

4400

43 00

4200

4100

4000

3900

3800

3700

3600

3500

3400

3300

3200

3100

3000

2900

2800

2700

2600

2500

2400

2300

2200

2100

2000

1900

1800

1700

1600

1500

1400

1300

1200

1100

1000

900

800

700

600

500

400

300

200

100

ATV (Rs/-)

(Offline Only)

+6%

3673

4345

4775

5047

Q3FY20 Q3FY22 Q3FY23 Q3FY24

2400

2300

2200

2100

2000

1900

1800

1700

1600

1500

1400

1300

1200

1100

1000

900

800

700

600

500

400

300

200

100

ASP (Rs/-)

Flat

1440

1574

1772

1779

Q3FY20 Q3FY22 Q3FY23 Q3FY24

1 KEY HIGHLIGHTS

2 STRATEGIC PILLARS

FINANCIALS

Surge in BTL and Premium Segments

Luxury Car Makers Stack up in India

Jaguar, 1.0%

Mini, 2.1%

Land Rover, 4.0%

Volvo, 5.2%

Mercedez Benz, 44.1%

Market Share

Audi, 14.0%

The India luxury watch market is projected to exhibit a growth rate (CAGR) of 20.3% during 2023-2028

India Luxury Hotel Market

4.4

2.7

BMW, 30.0%

Luxury vehicles sales +50% in FY22 S&P Global Mobility estimated a near 25 %growth in 2023 Source: JATO Dynamics

A report from Future Market insights shared that Lab Grown Diamond will see CAGR of 14.8% for next 10 years

2024

2029

India Luxury Hotel Market size is estimated at USD 2.7B in 2024, and is expected to reach USD 4.4B by 2029, CAGR of 10.1%

Source: Mordor Intelligence

➢ Credit Suisse says “Number of millionaires in India are projected

to grow by 105 per cent by 2026”

➢ Global luxury brands are bullish on Indian market and are eying

to enter and expand in the country

With robust BTL Portfolio, Shoppers Stop is positioned for disproportionate growth in the premium Category

Shoppers Stop leader in BTL and Premium Segment

Market

Where we are now ?

Planned Journey

Premium & BTL Fashion Market sized at $7.86 Billion

Premium Brands @ 47% Contribution

55% Contribution from Premium Brand by FY25. SSL to Launch 4-5 Premium brands

Top 4% of working age population in India has per capita income greater than ~US$10k per annum

One view of the Customer through integrating Tech, Personalization & Customer Centricity

Our exclusive Black Card Membership Contributing to 13% Sales

Personal Shoppers, our in-store personalized service, Contributing 15% and driving 3.2X Store ATV

Driving Experience through Makeovers @ 2.66 Lakh for the Quarter

+5% ASP & +8% ATV driven through Premium Brands by FY25

2 Premium Concept Store Launch planned by FY25

STRATEGIC PILLARS

9.7M

Rs 189 Crs

Rs 262 Crs

FIRST CITIZEN

PRIVATE BRANDS

BEAUTY

78%

13%

18%

Additions

Q3 13 Stores

EXPANSION

YTD 33 Stores

SALES CONTRIBUTION

FIRST CITIZEN

Sales contribution – Overall

Black Card Members – Contribution – Sales Growth – Black tier renewal

78% (Incl. Repeat 65%)

13% to Overall Sales +18% +3% QoQ

Beauty – FC Beauty contribution +12%; repeat members shopped +8%

Customer Engagement – 2.5X higher response rate for AI personalized campaigns - video

message by celebrity Nupur Sanon

– Sailing event and cocktail making experience for Black Card

members

– Persona based campaigns to drive repeat purchases

Viviana, Thane

PRIVATE BRANDS

Sales

Rs.189 Crs

– PB Contribution – Overall – Apparels

13% 19%

– Women Indian Wear outperformed +7%; Volume +10%

– Sanya X Kashish campaign received strong traction; – “Kashish” outperformed +18%; Volume +31%

– Kids Wear in “STOP” grew +8%; Volume +18%

Sales and Contribution %

14%

13%

11%

145

163

201

189

Q3FY20 Q3FY22 Q3FY23 Q3FY24

17%

15%

13%

11%

-1%

New Intune Stores

1. Trendset Mall, Vijayawada

2. Hennur Road, Bengaluru

3. Unicus Shyamal, Ahmedabad

4. Science City Road, Ahmedabad

INTUNE BUSINESS UPDATE

Expansion

– Added 4 stores during the quarter – Total 10 stores across 6 cities as on date – On track to open 14 stores during Q4

Key Insights – Strengthened position as a Kids First fashion brand – Strong acceptance from Families – Full Price Sell Thru at 65% – Festive range received strong response

INTUNE

INTUNE BUSINESS UPDATE

KPIs

− Sales of Rs 11 Crs ; YTD Rs 20 Crs

− Store EBITDA Positive

− ASP of Rs 450/- driven by Sharp pricing and Table offers

− Healthy Items per Ticket (IPT) at 3.7 driving ATV of Rs 1,691/-

INTUNE

BEAUTY

(Vs Q3 FY23)

Sales

Rs.292 Crs. Rs.262 Crs.

+23% +10% (excl. Distribution)

– Customer engagement with 266K Makeovers,

– Conversion 49% and Sales generated Rs 46 Crs

– 138 make-up Masterclasses conducted during the quarter – Bridal make up, Party Glam Look, Pearl Skin look etc.

– Launched 3K sq ft SSBeauty Store at Terminal 2 Bangalore Airport

– with added beauty services viz; Nail Bar, Hair Styling,

Treatment room

Beauty Business Network

Offline Department stores EBOs (incl. SSBeauty) Shop-in-shop Distribution Online Shoppersstop.com Dwarka, New Delhi ELCACosmetics.in

Count 105 88 57 334

SSBeauty.in Amazon

Sales and Contribution %

16%

17%

18%

– Planned to open 2 EBO’s stores in Q4FY24

– Arcelia (Private Brand) – Sales grew by 44% – 80 SKUs launched across categories; Portfolio of 650+ SKUs

213

197

237

262

Q3FY20 Q3FY22 Q3FY23 Q3FY24

19%

17%

15%

13%

11%

BEAUTY

KEY COLLABORATIONS

Key Campaigns; Strong traction +19%

Dwarka, New Delhi

Launched “Bath n Body” as Shop in Shop in collaboration with Apparel group

Launched “MyGlamm POUT” by Karan Johar from The Good Glamm Group

BEAUTY DISTRIBUTION

Sales

Rs.39 Crs (YTD Rs.77 Crs)

− Distribution network expanded to 334 doors

− Retailing brands across 17 different retailers

− Brands portfolio expanded with onboarding;

– Fragrance brand “Armaf” – Makeup brand “Soda Makeup”

− Total Brand portfolio now consists of 18 Brands

Vasant Kunj

SSBeauty @ T2 Int’ Airport, Bengaluru

Beauty Services Section

Treatment room

Hair Styling

Nail Bar

HOMESTOP

Sales

Rs 42 Crs +11%; Store count

– Optimized store size to improve productivity

– Strong customer response to assisted shopping,

Personal shopper sales +24%

– New Brands launched in experiential categories viz;

Nautica (Bedding), Nurturing Green (Live Plants), Chumbak (Quirky Range), Luminarc (Dining), Osim (Electric Massager)

EXPANSION

Store Footprint as on 31st Dec 23

Format

Store count

Department Stores

Beauty Stores

Intune

Home Stop

Airport Doors

105

Investments (Rs In Crs)

Q3 FY24

New Stores and Renovation

Technology/Others

Total Excl. Store Deposits of Rs 10 Crs during the Quarter

41^

233 Stores 4.1M sq.ft.#

# Carpet area

Ashirwad, Surat

EXPANSION Way Forward

On course to meet the planned Store Expansion for FY24

Additions

Opened in FY24

Store

FY23

FY24

FY25

FY26

Total

Department

Beauty

SSBeauty

EBOs

Intune

HomeStop Total Stores*

190

109

132

164

297

Area (Mn Sq ft)

1.15

0.05

0.04

0.01

0.80

0.11

2.10

FY26

YTD

FY24

143

155

111

164

487

*Excluding Airport Stores

Dept Store @ Warangal

Dept Store @Nexus Vijaya Forum, Chennai

Dept Store @Ashirwad High Street, Surat

Dept Store @Mittal Mall, Ajmer

Fashion Store @ T2 Int’ Airport, Bengaluru

Beauty Stores @ Phoenix Mall of Asia, Bengaluru

1 KEY HIGHLIGHTS

2 STRATEGIC PILLARS

3 FINANCIALS

KPI PERFORMANCE – Q3

Vs Q3FY23

(Rs Crs)

+4%

(70 bps)

(29%)

Sales

Gross Margin

EBITDA*

Non GAAP

1484

GAAP

1207

484

480

219

+7%

(110 bps)

(9%)

*FY23 numbers include reversal of Interest on GST Rs.17 Crs in other income

KPI PERFORMANCE – YTD

Vs YTD FY23

(Rs Crs)

+3%

(40 bps)

(30%)

Sales

Gross Margin

EBITDA*

Non GAAP

3996

GAAP

3213

1313

1312

189

569

+4%

(60 bps)

(3%)

*FY23 numbers include reversal of Interest on GST Rs.17 Crs in other income

FINANCIALS Q3 FY24

Particulars

Rs. in Crs.

Gross Revenue

Net Revenue Other Income*

Total Revenue

Margin

Margin%

Operating Exp.

EBITDA

Depreciation Finance Cost*

PBT

Non - GAAP Financials

GAAP Financials

FY24

1484

1306

1327

484

FY23

1430

1254

1286

474

Gr%

-33%

FY24

1362

1207

1210

480

FY23

1278

1132

1156

462

Gr%

-86%

37.1%

37.8%

(70 Bps)

39.7%

40.9% (110 Bps)

415

378

128

10%

-29%

112%

-41%

264

219

111

247

240

100

-9%

11%

12%

-44%

Previous years numbers are regrouped/rearranged wherever necessary *FY23 numbers include reversal of Interest on GST Rs.17 Crs in other income and Rs.3 Crs in finance cost

BALANCE SHEET

Particulars (Rs. In Crs.)

Dec’23 830 Net worth 33 Loan Fund 864 Total Liabilities 857 Fixed Assets + Lease Deposit 74 Investments 1745 Inventory* 586 Other Assets 2225 Total Current Assets 1931 Trade Creditors Goods* 467 Others 2398 Total Current Liability -173 Net Current Assets 864 Total Assets Previous years numbers are regrouped/rearranged wherever necessary

Mar’23 765 104 869 795 77 1488 525 1883 1539 475 2015 -131 869

*Includes ROR Inventory of Rs 1,242 Crs and Creditors of Rs 1,697 Crs in FY24 and Rs 1,030 Crs and Creditors of Rs 1,372 Crs in FY23

Net Cash

Rs. in Crs

Cash & Investments

Loan

Net Surplus

CASH FLOW

Particulars Cash Profit from Operations (after tax) Changes in Working Capital Cash generated from Operations Fixed Assets /Reduction in Capex Creditors* Cash generated from Operations Redemption of Investments (Net) Cash post Investing Activities ESOP Interest & Finance Cost Loans Repayment Net Increase/(decrease) in Bank Balance

*Includes Security Deposit of Rs. 32 Crs for New stores

Dec’23 185 59 244 -161 83 3 86 10 -8 -71 17

Mar’23 321 -124 197 -191 7 87 93 3 -13 -90 -7

WAY FORWARD

Demand Continue to remain muted. Gradual recovery expected from FY25. Growth through focusing on Premiumization and non-apparel categories

Brands Focus on premiumization Launch of exclusive brands within the Shoppers Stop eco-system

Stores Network expansion as per Schedule; explore franchisee model for INTUNE

Profitability Focus on right product value to deliver lower discounting and higher sell through for private brands. Optimize costs for better operating leverage

Beauty Build Personalization and intensify our systems to educate and experience the Customers Increase Makeovers for conversion Increase assortment of International brands

Balance Sheet Strengthen Balance Sheet by Working Capital reduction; Higher ROCE through better FCF

ANNEXURES

FINANCIALS Q3 FY24

Non GAAP

Gr% 7% 7% -86% 5% 4%

Particulars Rs. in Crs. Gr% Gross Revenue 4% Net Revenue 4% Other Income* -33% Total Revenue 3% Margin 2% Margin% (70 Bps) Operating Exp. 10% EBITDA -29% Depreciation 1% Finance Cost* 112% PBT -41% Exceptional Item/OCI -59% PBT(Adj.) -40% Tax -39% PAT -40% Previous years numbers are regrouped/rearranged wherever necessary *FY23 numbers include reversal of Interest on GST Rs.17 Crs in other income and Rs.3 Crs in finance cost

GAAP FY23 1278 1132 24 1156 462 40.9% (110 Bps) 247 240 100 52 89 4 85 23 62

FY23 1430 1254 32 1286 474 37.8% 378 128 32 1 95 4 91 23 68

FY24 1362 1207 3 1210 480 39.7% 264 219 111 58 50 0 49 14 35

FY24 1484 1306 21 1327 484 37.1% 415 91 32 2 56 2 54 14 40

7% -9% 11% 12% -44% -95% -42% -39% -43%

Adjustment in Net Profit PBT (as per Non GAAP) Lease Rent (Non-GAAP) Finance costs Depreciation on ROU Assets Remeasurement of leases life Others PBT (as per GAAP)

GAAP Adj. 54 -127 55 75 0 0 49

FINANCIALS YTD FY24

Non GAAP

Gr% 3% 3% -2% 3% 2%

Gr% 4% 4% -38% 4% 3%

Particulars Rs. in Crs. Gross Revenue Net Revenue Other Income* Total Revenue Margin Margin% Operating Exp. 9% EBITDA -30% Depreciation 0% Finance Cost* -31% PBT -48% Exceptional Item/OCI 24% PBT(Adj.) -53% Tax -48% PAT -55% Previous years numbers are regrouped/rearranged wherever necessary *FY23 numbers include reversal of Interest on GST Rs.17 Crs in other income and Rs.3 Crs in finance cost

FY24 3614 3213 21 3235 1312 (40 Bps) 40.8% 764 569 324 167 78 5 72 20 52

GAAP FY23 3468 3082 34 3116 1275 41.4% (60 Bps) 725 584 277 154 152 11 141 39 102

FY24 3996 3521 66 3588 1313 37.3% 1190 189 97 8 84 13 71 20 51

FY23 3891 3423 68 3491 1291 37.7% 1088 270 97 12 161 10 151 39 112

5% -3% 17% 8% -49% -52% -49% -48% -49%

Adjustment in Net Profit PBT (as per Non GAAP) Lease Rent (Non-GAAP) Finance costs Depreciation on ROU Assets Remeasurement of leases life Others PBT (as per GAAP)

GAAP Adj. 71 -367 158 217 -10 1 72

233 S t o r e s

9.7M F I R S T C I T I Z E N S

800+ B R A N D S

13% Mix P R I V A T E B R A N D S

4.1 M S Q U A R E F E E T A R E A

18% Mix B E A U T Y

56 C I T I E S

13.9 Mn C U S T O M E R E N T R Y i n Q 3

18.6K ( 1 ) T A L E N T P O O L

As at 31st Dec’23

HomeStop, Dehradun

1 . I n c l u d e s B r a n d s t a f f

DISCLAIMER

Certain statements in this release concerning our future growth prospects are forward-looking statements within the meaning of applicable securities laws and regulations, and which involve number of risks and uncertainties, beyond the Control of the company, that could cause actual results to differ materially from those in such forward-looking statements The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding Fluctuations in earnings, our ability to attract and retain highly skilled professionals, political instability, legal cost advantage, wage increases, our ability to attract and retain highly skilled professionals, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and General economic conditions affecting our industry.

Shopper’s Stop Ltd. may, from time to time, make additional written and oral forward looking statements, including our reports to shareholders. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company. The Company also expects the media to have access to all or parts of this release and the management’s commentaries and opinions thereon, based on which the media may wish to comment and/or report on the same. Such comments and/or reporting maybe made only after taking due clearance and approval from the Company’s authorized personnel. The Company does not take any responsibility for any interpretations/ views/ commentaries/reports which may be published or expressed by any media agency, without the prior authorization of the Company’s authorized personnel.

In case of any clarifications please contact on investor@shoppersstop.com

Press Release for immediate distribution

Reports quarterly sales of Rs 1,207 Cr, up +7% YoY and EBITDA of Rs.219 Cr (GAAP)

• Beauty outperformed +10%, led by Fragrance +41%; Make up +6%; Overall Mix at 18% • Private Brands Mix at 13% and apparels Mix at 19%; Women Indian wear outperformed +7% • Premiumization on rise; ATV +6% • Added 13 stores during the quarter; 4 Department, 4 Beauty, 4 Intune and 1 Airport; Capex

Investments @ Rs.51 Cr for Q3 and YTD Rs162 Cr

• Debt free with Net Cash surplus of Rs 40 Cr

Mumbai, January 18, 2024: Shoppers Stop Ltd. a leading department store with premier fashion and beauty brands, has declared its results for the quarter ended 31st December 2023.

Key financial highlights for Q3 FY24

Rs. In Cr Sales Gross Margin EBITDA PBT PAT

Q3FY24 1,484 37.1% 91 54 40

Non GAAP Q3FY23 1,430 37.8% 128^ 91^ 68^

Growth%

4% (70) Bps -29% -40% -40%

Q3FY24 1,207 39.7% 219 49 35

GAAP

Q3FY23 1,132 40.9% 240^ 85^ 62^

Growth%

7% (110) Bps -9% -42% -43%

^FY23 numbers includes reversal of Interest on GST Rs.17 Crs in other income and Rs.3 Crs in finance cost owing to repealing of certain section in the statutes

Management Comments:

Commenting on the Q3FY24 results, Mr. Kavindra Mishra, Executive Director and CEO, Shoppers Stop Ltd, said, “With considerable slowdown on the discretionary spending, we have demonstrated notable resilience in these tough conditions. Our Company has delivered admirable financial results with a Sales growth of 7% despite muted consumer demand. And during the festive period, the sales grew by 9% (LTL +5%). Average Transaction value grew by 6% driven by premiumization and Items per Ticket grew by +5%. Some of the outliers for Q3 are, our external Brands both apparel and non-apparel have grown above average, with better yields on our KPI’s. Our Home Stop has turned around and had an impressive growth of 10%, with a sale of Rs. 42 Crs. We reported a GAAP EBITDA of Rs.219 Crs vs Rs.240 Crs in FY23. Our EBITDA has been lower due to one-time Income of Rs.17 Crs as other Income in FY23 and we have made provision for obsolescence of circa Rs.9 Crs during the quarter.

We have observed that despite the overall muted market conditions our customers have upped their spends on the differentiated mix of premium brands and experiences across various categories wherein SSL is a destination”.

Performance of strategic pillars in Q3FY24:

• First Citizen – Our First Citizen Members contributed 78% to overall sales, out of which 65% were repeat and 13% new members. Our Premium Black Card members contributed 13% to the overall sales, an increase of 18% YoY. During the quarter we added 191K members and total base at the quarter end is 9.7Mn. The customer engagement continued to be strong, with events such as sailing and cocktail making organized for First Citizen Black Card members which had a good response. We had 118 Customer events across all our stores, making it a memorable shopping experience for our customers.

• Private Brands – Private Brands sales were at Rs 189 Cr with an overall contribution of 13% to the Sales and 19% to apparel’s sale. Women’s Indian Wear grew +7%. Our Sanya X Kashish campaign had a good response from customers. Kashish outperformed with Sales growth of +18%. Kidswear within the brand STOP grew by 8%.

• Beauty – Beauty grew by +10%, outperforming other segments in the retail with an overall sale of Rs.262 Crs. Beauty Contribution to overall sales increased to 18%. We have been building Beauty Eco Systems through customer engagements and in store experiences. This has further strengthened by our 266,000 Makeovers and 138 Master Classes covering “Bridal makeup and Party Glam Look” this quarter. During the quarter, we opened State of the Art Beauty Store sprawling 3000 sq ft at the prestigious T2 Bengaluru Airport.

•

Intune –Our “Fashion for all” format, Intune has been one of the promising and fast-growing segment. We have added 4 stores during the quarter and total store count is 10 across 6 cities. Akin to previous quarters, we had a Full price sell thru of 65%. The format received strong acceptance for Family shopping with Kidswear Mix at 27%. We are planning to add 14 Intune stores in Q4FY24, aggregating to 24 by FY24 end.

• Beauty Distribution – Beauty distribution business clocked Rs 39 Cr sales with distribution network expanded to over 334 doors. We added Fragrance brand Armaf and Makeup brand Soda Makeup in our distribution portfolio taking total brand count to 18 consisting 10 Fragrance, 2 Makeup, 3 Skincare and 3 Full line brands.

• Store Expansion – The company is on course to meet the guided store expansion for FY24. We opened 4 department stores, 4 beauty stores, 4 Intune and 1 Airport stores in this quarter, aggregating to 13 stores this quarter and 33 stores year to date. The company made an investment of Rs 51 crores on expansion during the quarter.

Note: We have published a detailed Non-GAAP and GAAP Income Statement. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

About Shoppers Stop Limited: Shoppers Stop Ltd. is the nation's leading premier retailer of fashion and beauty brands established in 1991. Spread across 105 department stores, the Company also operates 7 premium home concept stores, 88 Specialty Beauty stores of M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SS Beauty, 10 Intune stores and 23 Airport doors, occupying area of 4.1 M sq. ft. Shoppers Stop is home to one of the country's longest running and most coveted

loyalty program 'First Citizen'. The Company's one-of-a-kind shopping assistance service, 'Personal Shopper' is revolutionizing the way Indian’s shop, bringing more value, comfort, and convenience to customer experiences. The brand's diversified Omni channel offering spans over 800+ recognized and trusted brands across an incomparable range of products that together serve our overarching objective of delivering customer. delight.

For more information, contact: Shoppers Stop Ltd Rohit Trivedi (P) + 91- 9322672437 (E) rohit.trivedi@shoppersstop.com

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Shoppers Stop Limited has informed the Exchange regarding a press release dated January 18, 2024, titled "Press Release and Investor Presentation for the quarter and nine months ended December 31, 202...

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