PREVIEW:India's Shoppers Stop expected to swing to Q2 profit

Shoppers Stop

19/10/2022 07:57

** Shoppers Stop's shares  SHOP.NS  rise as much as 2.7% to
800 rupees ahead of the department store chain's Q2 report
    ** Co expected to swing to profit of 272.3 mln Indian rupees
($3.3 million) from 30.3 mln rupees loss yr-ago, per IBES data
from Refinitiv
    ** Q2 rev expected to rise nearly 54%, with Edelweiss
analysts saying consumers likely visited and splurged at stores,
like they did in Q1
    ** Buoyant wedding season, travel and vibrant festive
celebrations would lead to higher spending, Shoppers Stop said
in July when reporting Q1 earnings, adding consumers would buy
more higher-priced goods in the coming months on pent-up demand
    ** SHOP Shares have more than doubled this year as of last
close
 
 ($1 = 82.3525 Indian rupees)
 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))