What: Shoppers Stop reported a Q4 sales drop of 10%.

Why it is important: Despite reporting some recovery through omnichannel sales, the retailer is still seeing impacts of the pandemic on revenue.

Shoppers Stop, which operates 84 department stores in 44 Indian cities, as well as 127 specialty beauty stores for brands including M.A.C, Estée Lauder, Bobbi Brown, Clinique, Smash box and Jo Malone, saw sales largely recover in the fourth quarter of India’s fiscal year, from January to March, declining 10% from the same period a year earlier.

Quarterly sales revenue reached  USD 113 million with EBITDA reaching USD 1.44 million. Omnichannel sales grew by 188% and private brands’ volume grew by 38% in the fourth quarter year-on-year.

Indian Department Store Shoppers Stop Sees Q4 Sales Drop 10%