India's Shoppers Stop jumps on higher Q3 profit

Shoppers Stop

15/01/2025 04:05

** Shares of Shoppers Stop  SHOP.NS  rise as much as 8.7% to
674.2 rupees, highest since Nov. 5, currently up 8.1%
    ** The department store chain said Q3 consol net profit up
~41% Y/Y, snapping two consecutive qtrly losses
    ** Rev from ops up 11%, aided by strong demand for premium
category
    ** Nearly 230,000 shares change hands, 1.5x its 30-day avg
    ** Nine analysts covering the stock, on avg, have a "hold"
rating vs "buy" rating on rivals Tata Group-owned Trent
 TREN.NS  and Arvind Fashions  ARVF.NS , while Aditya Birla
Fashion and Retail  ADIA.NS  rated "sell"- LSEG data
    ** SHOP up 10% so far this month; it fell ~24% in Q3



($1 = 86.5590 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))