India's Shoppers Stop slides on posting Q1 loss

Shoppers Stop

19/07/2024 05:15

** Shares of department-store chain Shoppers Stop  SHOP.NS 
are down nearly 4% to 788 rupees     
    ** SHOP posted a loss of 227.2 mln rupees ($2.72 mln) in Q1,
its first in nine quarters
    ** Rev growth slowed down to 7.6% from 13.3% in the Jan-Mar
period 
    ** Stock set to post fourth straight session of losses; it
dropped nearly 4% in last three sessions 
    ** SHOP avg rating is "hold" compared to "buy" for Trent
 TREN.NS  and "strong buy" for Arvind Fashions  ARVF.NS  - LSEG
data
    ** SHOP's 14% YTD rise is lesser than ARVF's 20% rise and
TREN's 71.5% gain


($1 = 83.6300 Indian rupees)

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))