SHOPERSTOP

** Shoppers Stop SHOP.NS falls 5.5% to 518.05 rupees

** Co's Q4 consol net profit plunges 91% Y/Y

** Revenue up 1.7% Y/Y, same-store sales rises 3%

** SHOP down ~14% YTD

(Reporting by Vijay Malkar)

(([email protected];))

** 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)

(([email protected] ; ( +91 8078332441))

Jan 14 (Reuters) - Shoppers Stop Ltd SHOP.NS:

• SHOPPERS STOP Q3 CONSOL NET PROFIT 522.3 MILLION RUPEES

• SHOPPERS STOP Q3 CONSOL REVENUE FROM OPERATIONS 13.79 BILLION RUPEES

Further company coverage: SHOP.NS

(([email protected];))

** Shares of Trent TREN.NS slides 5.7%, extending losses of 0.4% ahead of Q2 results

** Clothing retailer's Q2 consol rev from ops climbs 39.4% Y/Y, its slowest rev growth since Q4 2021

** Q2 consol net profit climbs ~47% Y/Y

** Stock second-biggest pct loser on benchmark Nifty 50 .NSEI, which is down 1%

** Trading volume 1.2x the 30-day moving avg

** Avg rating on TREN at "buy" while rival Shoppers Stop SHOP.NS rated "hold" - LSEG data

** TREN has more than doubled YTD, while SHOP has lost ~5%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, Nov 5 (Reuters Breakingviews) - India's biggest companies no longer offer a rose-tinted window onto the world's fifth-largest economy. Shoppers have been tightening their purse strings for years. Now the austerity is spreading from the rural poor to the urban rich. That is the opposite of the recovery story that was supposed to play out.

GDP is growing at 6.7% but the reality is that consumption has been weak in India since at least 2020. Income growth is anaemic: casual and regular workers in 2023 earned a monthly wage 1% lower than in the previous year, per an International Labour Organization report based on government data. For a while, big companies that dominate the country's stock benchmarks like the Nifty 50 Index .NSEI seemed well insulated.

The latest set of company earnings suggest otherwise. Hindustan Unilever's HLL.NS net profit fell 2% year-on-year for the three months ended September. Reliance Retail - a unit of $215 billion Reliance Industries RELI.NS - reported a 1% drop in revenue in the same quarter and shrank store space by 2% from its June level; boss Mukesh Ambani's execution on strategy looks as much of a problem as a softening economy. Shoppers Stop SHOP.NS, an upscale department store, logged its second straight quarter in the red. The list goes on.

The hope was always that the incomes of the poor who were buying fewer biscuits would improve. Instead, urban demand is showing weakness too - sales of fast-moving consumer goods groups in cities are growing at nearly one-fifth of last year's rate - just as rural sales inch up from a prolonged slump.

India's festival season is usually a time people spend but carmakers struggled to clear inventory in the run up to the Diwali holiday last week: Revenue growth at Maruti Suzuki MRTI.NS, the country's top carmaker by sales, crawled at its slowest pace in three years during the September quarter. Even luxury marque BMW BMWG.DE is slashing prices; discounts could get bigger going forward, the Times of India reported on Oct. 28, citing unnamed industry analysts.

Nearly half of the top 100 listed firms that have reported earnings for the September quarter missed estimates by more than 4%, the highest since March 2020, according to Venugopal Garre and his colleagues at Bernstein. Garre says companies are not acknowledging "the elephant in the room" and are hoping the slowdown is a one-off anomaly. For the country's eye-wateringly expensive equities - MSCI India is valued at more than 23 times earnings - that sets up a lot of potential pain.

Follow @ShritamaBose on X

CONTEXT NEWS

Diwali, a major holiday, was celebrated in India on Oct. 31 and Nov. 1.

(Editing by Una Galani and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on BOSE/
[email protected]))

Oct 28 (Reuters) - Indian clothing retailer Arvind ARVN.NS posted a 19% rise in second-quarter pre-tax profit on Monday, aided by strong textiles demand as customers splurged on clothes ahead of the festive season, sending its shares 5% higher.

The company, which sells international brands such as Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated profit before tax rose to 1.35 billion rupees ($16.1 million), from 1.14 billion rupees a year earlier.

Demand for textiles remained strong during the festive season, as wealthy domestic consumers spent more, analysts noted.

The company said volume growth in its mainstay textile segment was mainly due to new customer acquisition and better demand.

Arvind posted a near 14% rise in revenue from operations, while revenue from its core textile segment, which accounts for nearly 74% of total sales, grew 12%.

The advanced materials segment (AMD), through which Arvind makes fabrics and protective gear for construction work, grew 9%.

Textile division has a buoyant order book, and is expected to do well in the second half of the financial year, Arvind said in its investor presentation, adding that AMD is expected to do well and touch a volume growth of 20%.

Its total expenses rose 13% to 20.66 billion rupees, which led earnings before interest, tax, depreciation and amortization (EBITDA) margin to contract to 10.1% from 10.7% a year ago.

The company reported an increase in deferred tax provision worth 293.5 million rupees during the quarter.

Last week, rival Shoppers Stop SHOP.NS reported a loss for a second straight quarter, as high inflation led customers to cut back on discretionary spending.

($1 = 84.0725 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Rashmi Aich)

(([email protected];))

** Shares of Shoppers Stop SHOP.NS fell 4.8% to 682.7 rupees, their lowest since Dec. 21, 2023; last down 1%

** SHOP set to extend losing run to ninth straight session, if losses hold

** Department store chain posts loss for second straight quarter on sluggish demand

** SHOP sees busiest day since Oct. 4, with over 58,000 shares traded

** Analysts' avg rating on stock is "Hold" vs "Buy" on peer Trent Ltd TREN.NS

** Their median PT for SHOP is 811 rupees - LSEG

** SHOP is flat YTD vs 145% surge in TREN

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Oct 22 (Reuters) - Shoppers Stop Ltd SHOP.NS:

• SHOPPERS STOP Q2 CONSOL NET LOSS 205.9 MILLION RUPEES

• SHOPPERS STOP Q2 CONSOL REVENUE FROM OPERATIONS 11.15 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SHOP.NS

(([email protected];;))

** Shares of Shoppers Stop SHOP.NS rise as much as 4.9% to 824 rupees

** Department-store chain signs deal with make-up brand Max Factor, owned by Coty COTY.N

** Says Max Factor will expand India presence to 70 SHOP outlets by the end of the year

** Avg rating of nine analysts is "hold"; median PT is 805.50 rupees - LSEG data

** Stock up 4.6% so far in August, on track for fourth straight month of gains

** YTD SHOP up 18.3% vs Trent's TREN.NS 134% jump

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of fashion retailer Trent TREN.NS climb ~3% to a record high of 6,750 rupees

** Stock on track for third straight session of gains

** Reuters could not immediately ascertain a reason for the stock move

** TREN reported two-fold jump in Q1 profit on August 9; stock hit record high then

** Trent's Q1 results an outlier among apparel retailers, says Morgan Stanley

** TREN only company among consumer retailers which has not seen downward revision in earnings estimates in last three months, says Morgan Stanley

** Analysts' avg rating on TREN, rival Shoppers Stop SHOP.NS at "hold", while Nykaa FSNE.NS rated "buy" - LSEG data

** TREN records more than two-fold YTD climb, while FSNE and SHOP gain 11% and 12%, respectively

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Adds request for comment from FirstCry in paragraph 6

By Aditi Shah and Scott Murdoch

NEW DELHI/SYDNEY, Aug 1 (Reuters) - Indian retailer FirstCry is seeking to raise up to $501 million in an initial public offering (IPO), valuing the company as much as $2.9 billion, according to a term sheet seen by Reuters on Thursday.

FirstCry, which sells baby products including clothes, diapers and toys and competes with online kids' store Hopscotch, and in some segments with domestic firms Shoppers Stop SHOP.NS and Flipkart-owned Myntra, is seeking to tap the market for new parents in the world's most populous country.

The company is offering fresh shares worth $199 million, while existing investors, including SoftBank 9434.T, TPG TPG.O and India's Mahindra and Mahindra MAHM.NS, will sell a combined stake worth $302 million, the term sheet showed.

FirstCry is offering a 17% stake to public shareholders and has set a price band between 440 rupees and 465 rupees per share, according to the term sheet.

It said it will use the proceeds from the offering to fund acquisitions, international expansion and set up new stores and warehouses in India.

FirstCry did not immediately respond to a Reuters' request for comment.

The book running lead managers are BofA Securities India, Morgan Stanley India, Kotak Mahindra Capital, JM Financial and Avendus Capital.

A stock market boom has resulted in over 150 Indian companies raising nearly $5 billion through public listings in the country between January and July, nearly double the amount raised for the same period last year, according to LSEG data.

Indian e-scooter maker Ola Electric earlier this week said it aims to raise $734 million in the country's biggest IPO this year.

(Reporting by Aditi Shah in New Delhi and Scott Murdoch in Sydney; Writing by Hritam Mukherjee; Editing by Sonia Cheema)

(([email protected]; X: @MukherjeeHritam;))

BENGALURU, July 24 (Reuters) - Indian textiles firm Trident TRIE.NS reported a 21% fall in its first-quarter profit on Wednesday as it struggled to keep a tight lid on expenses amid rising cotton prices.

The company supplies to stores including Shoppers Stop SHOP.NS, DMart AVEU.NS and online retailers Flipkart and Myntra.

Cost of cotton, a key raw material for Trident, has been elevated for more than a year, hurting profits.

Trident reported a consolidated net profit of 737.3 million rupees ($8.8 million) for the quarter ended June 30, compared with 934 million rupees a year earlier.

The company's revenue from operations rose 17% to 17.43 billion rupees during the quarter from a year ago.

However, cost of raw materials rose nearly 18% during the quarter, causing a near 20% surge in total expenses.

This ate into the company's profit.

Trident's core yarn segment, the key revenue contributor, saw a 49% surge in revenue. The smaller paper and chemicals segment saw a near 5% drop in revenue, as paper prices continued to be under pressure due to heavy imports.

Shares of Trident closed 1.3% higher ahead of results.

($1 = 83.6810 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected];))

** 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)

(([email protected];))

July 18 (Reuters) - Shoppers Stop Ltd SHOP.NS:

• SHOPPERS STOP - PLANNING TO CLOSE FEW UNVIABLE STORES, RATIONALIZE COSTS DURING YEAR

Source text for Eikon: ID:nBSE2DzngH

Further company coverage: SHOP.NS

(([email protected];))

BENGALURU, April 29 (Reuters) - India's Shoppers Stop on Monday reported nearly a 53% rise in fourth-quarter profit, helped by demand in its beauty segment as well as luxury products.

The early start of end-of-season sales and events like Valentine's Day drove heightened sales volumes, while high-income urban consumers favoured luxury makeup and fragrances for social and professional engagements, further boosting top-line growth.

The Mumbai-based chain reported a profit before exceptional item and tax of 300.7 million rupees ($3.60 million) for the three months ended March 31, compared with 197.1 million rupees a year earlier.

It also recorded an exceptional item of 15.9 million rupees in the quarter.

Shoppers Stop, which sells products of brands like Swarovski, Versace, Michael Kors and Bobbi Brown, said its revenue from operations rose 13.3% to 10.46 billion rupees.

Peer Tata Group-owned Trent TREN.NS reported a five-fold jump in quarterly profit, while Arvind Fashions ARVF.NS and Aditya Birla Fashion and Retail ADIA.NS are yet to report results.

Shares of Shoppers Stop closed 0.6% higher ahead of the results. They rose 9.3% during the March quarter.

($1 = 83.4614 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sohini Goswami)

(([email protected]; +91 8805175330 ;))

BENGALURU, Feb 13 (Reuters) - India's Arvind Fashions ARVF.NS, which retails clothing from brands such as Arrow, Calvin Klein and Tommy Hilfiger, reported a slowdown in revenue growth in the key holiday quarter and warned that any improvement would only come next quarter.

The company's shares tumbled nearly 9% after the results, in their biggest intra-day slide in five weeks.

Arvind Fashions' consolidated revenue rose about 5% to 11.25 billion rupees ($135.5 million) in the October-December quarter. That was less than the 7% growth in the previous quarter and a 17% jump in the year-ago holiday quarter.

"Demand trends continue to remain soft," the company said in a statement and said it expects an improvement by the first quarter, which starts in April.

Retailers have grappled with subdued demand for over a year as inflation-weary consumers cut back on spending.

However, Arvind Fashions' profit from continuing operations rose 14% to 301.2 million rupees in the third quarter. That excluded a one-time gain of 348.2 million rupees from the sale of its unit, Arvind Beauty Brands.

The Bengaluru-based company said its premium brands such as Calvin Klein and Tommy Hilfiger pulled in customers, while its kids wear product sales jumped 15%.

Its rival Shoppers Stop SHOP.NS has reported a third consecutive fall in quarterly profit, although Tata Group-owned Trent's TREN.NS profit surged on strong festive-season sales.

Shares of Arvind Fashions fell as much as 9% after the results before recovering to trade down about 3%.

They have gained about 44% over the past 12 months, more than Shoppers Stop's 9% increase but well below Trent's 190% surge.

($1 = 83.0069 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sherry Jacob-Phillips and Savio D'Souza)

(([email protected];))

Adds currency in paragraph 2

BENGALURU, Feb 6 (Reuters) - Indian textiles firm Trident Ltd TRIE.NS posted a nearly 25% drop in its third-quarter profit, hurt by a rise in expenses, even as consumers bought more home linen during the festive season.

Trident - which counts cotton as its primary raw material - said its total expenses jumped 16% for the quarter ended Dec.31, with costs of raw materials climbing about 9%. This ate into its profit, which fell to 1.09 billion rupees.

Shares of Trident - which supplies products to department stores such as Shoppers Stop SHOP.NS, D-Mart AVEU.NS and Walmart WMT.N - closed 2.6% lower after the results.

India's festive season coincided with the third quarter, with consumers spending more on home linen items such as bedsheets. This helped Trident report a 12% jump in revenue to 18.35 billion rupees ($220.99 million).

The company, which is also engaged in manufacturing paper and chemicals, said revenue from its yarn and bedsheets segment rose about 25% and 36%, respectively, while its towels division fell 8%.

All three segments made up 86% of the total revenue.

($1 = 83.0343 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sonia Cheema)

(([email protected]; X: @MukherjeeHritam;))

** Shares of departmental store operator Shoppers Stop SHOP.NS drop 5% to 667.40 rupees after a third straight quarterly profit fall

** SHOP's Q3 net profit declines 41% y/y, rise in total expenses outpaced rev growth

** More than 76,000 shares trade, 0.8x 30-day avg volume

** Last currently down nearly 2%, taking YTD losses to 0.4%, after 2.6% decline in 2023

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

BENGALURU, Jan 18 (Reuters) - India's Shoppers Stop SHOP.NS reported a third consecutive fall in quarterly profit on Thursday as consumers spent less on clothes and cosmetics amid elevated prices.

Net profit fell 41% to 368.5 million rupees ($4.43 million) in the three months ended Dec. 31, the department store operator said in an exchange filing.

India's inflation was on the higher side during the quarter, largely driven by a spike in food prices, which resulted in people cutting back spending on discretionary items such as clothing and footwear.

The company, which houses products ranging from Vero Moda clothing to Michael Kors watches, said total expenses rose nearly 11%, outpacing a 9% growth in revenue to 12.38 billion rupees.

This led to a contraction in the margin on earnings before interest, tax, depreciation and amortization (EBITDA) to 6.9% from 10.2% a year earlier.

The company is set to open 14 stores in the fourth quarter, it said. It currently operates a total of 105 department stores across the country.

Shares of Shoppers Stop closed 1.9% higher ahead of the results. They rose 0.8% in the December quarter.

Peers such as Arvind Fashions ARVF.NS, Tata Group-owned Trent TREN.NS and Aditya Birla Fashion and Retail are expected to report quarterly results in February.

($1 = 83.1140 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema)

(([email protected];))

Jan 12 (Reuters) - Shoppers Stop Ltd SHOP.NS:

• ADITYA BIRLA SUN LIFE MUTUAL FUND CUTS STAKE IN SHOPPERS STOP BY 2.02% TO 4.99% - EXCHANGE FILING

Source text for Eikon: ID:nBSE17PxHB

Further company coverage: SHOP.NS

(([email protected];))

Dec 29 (Reuters) - Shoppers Stop Ltd SHOP.NS:

• SHALL COMMENCE OPERATIONS FROM ITS NEW STORES IN GUJARAT ON DEC 31

Further company coverage: SHOP.NS

(([email protected];))

Recasts lead, adds details and context throughout

BENGALURU, Dec 28 (Reuters) - India's FirstCry parent on Thursday filed for an initial public offering to raise 18.16 billion rupees ($218 million), making it the first pure-play baby products and childcare retailer to go public in the country.

FirstCry's parent Brainbees Solutions will sell fresh shares in the IPO and so will other investors, including its biggest shareholder SoftBank 9984.T, which held a 25.5% share in the company as of Dec. 27, draft IPO papers showed.

SoftBank, which will sell 20.3 million shares at the IPO, sold a stake worth 6 billion rupees in FirstCry this week, according to multiple media reports.

Other investors in FirstCry, including tech-to-tractors firm Mahindra And Mahindra MAHM.NS and U.S. private equity fund TPG, will also sell stakes.

The total size of the IPO was not immediately clear.

The childcare products market in India is projected to grow at a compound annual growth rate of 13%-14% to reach 4.5 trillion rupees-4.8 trillion rupees in 2027 as parents are increasingly shifting their preferences towards branded goods, according to Redseer Research.

FirstCry, which competes in certain segments with Shoppers Stop SHOP.NS, Hopscotch and Flipkart-owned Myntra, saw its losses widen six-fold in fiscal 2022-2023 due to rising costs.

The company plans to use funds from the IPO to expand its network in India and Saudi Arabia, and to clear leases for existing Indian stores. It has 936 stores in India.

Robust economic growth and hope that Indian Prime Minister Narendra Modi's ruling party will return to power after general elections in early 2024 has boosted benchmark indices .NSEI, .BSESN to record highs, fueling a rise in IPOs in late 2023.

Morgan Stanley, BofA Securities, and Kotak Mahindra Capital are among the investment bankers for the FirstCry share sale.

($1 = 83.2780 Indian rupees)

(Reporting by Nandan Mandayam Sethuraman NR in Bengaluru; Editing by Savio D'Souza and Mrigank Dhaniwala)

(([email protected]; Mobile: +91 9591011727;))

Shoppers Stop Ltd SHOP.NS:

• SHOPPERS STOP LTD- SHOPPERS STOP AND GOOD GLAMM GROUP LOOK TO COLLABORATE

Source text for Eikon: ID:nBSE9p2htb

Further company coverage: SHOP.NS

BENGALURU, Nov 7 (Reuters) - India's Arvind Fashions ARVF.NS reported a 18.9% rise in the second-quarter profit on Tuesday, aided by healthy sales of clothing and footwear and as power brands helped it maintain wider margins.

The Bengaluru-based company's consolidated net profit rose to 216.6 million rupees ($2.60 million) for the quarter ended Sept. 30 from 182.2 million rupees a year earlier, sending its shares up as much as 8%.

While consumer demand continued to remain soft, Arvind Fashions' strong performance in the multi-brand outlet channel and tighter control over inventories resulted in higher profit, the company said.

The earnings before interest, taxes, depreciation, and amortization (EBITDA) margin improved by about 50 basis points from a year ago, it added.

Fashion retailers have seen a shift in demand due to a delayed festive season, which for 2023, began late October.

Usually, the festive season aids companies clock higher annual sales as customers spend on clothes, accessories and footwear.

Arvind Fashions, which has a portfolio of owned and licenced international brands such as Arrow and Calvin Klein, said its consolidated revenue from operations rose 7% to 12.67 billion rupees in the September quarter.

Revenue from so-called power brands like US Polo and Tommy Hilfiger, which accounts for more than 80% of the total, rose 5%.

The company's emerging brands segment clocked a 19% jump in revenue while the footwear segment posted revenue growth of about 20%.

Last week, Arvind Fashions exited its Sephora India business as the company sold its beauty brands division to billionaire Mukesh Ambani's retail unit Reliance Retail.

Rival Shoppers Stop SHOP.NS last month reported a drop in the second-quarter profit.

Tata Group-owned Trent TREN.NS, that operates retail chain Westside, reported a near three-fold surge in profit on Tuesday.

($1 = 83.2600 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected];))

Recasts with details from Reliance, Arvind Fashions' statements

BENGALURU, Nov 3 (Reuters) - Billionaire Mukesh Ambani's Reliance is tying up with LVMH-owned LVMH.PA Sephora to operate the beauty chain's stores in India and help expand Sephora's presence in the country's fast-growing beauty and cosmetics market.

India's largest retailer Reliance, which launched its own beauty retail platform called Tira in April to take on the likes of Nykaa FSNE.NS and the Tata Group, will now take over Sephora's 26 stores in India from Arvind Fashions ARVF.NS.

Arvind Fashions had partnered with the French brand for the last eight years.

"The partnership gives RRVL (Reliance Retail Ventures Ltd) exclusive rights to build and enhance Sephora’s presence in India across channels," Reliance Retail said in a statement.

Sephora's products range from make-up to skincare. The chain also retails luxury brands such as Dior and Tom Ford offline and online and recently became the exclusive retailer for pop star Selena Gomez's Rare Beauty brand in India.

The 990.2 million-rupee ($11.89 million) deal between Reliance and Arvind Fashions comes months after local media reported that Sephora and Reliance Retail had abandoned talks to form a retail partnership for the Indian market.

Beauty retailers in India are vying to attract customers as demand for clean beauty and celebrity-owned brands grows. Brands such as Nykaa, Tira, and Shoppers Stop recently expanded their offerings in the hopes of attracting and keeping customers.

"Rising affluence, increasing urbanisation and the proliferation of social media have driven greater awareness of self-care and beauty, unlocking major opportunities for prestige beauty," Sephora's Asia President Alia Gogi said.

Shares of Arvind Fashions surged 11.5% after the news, before trimming some gains to close 5.8% higher.

The beauty division that hosted Sephora reported a revenue of 3.37 billion rupees in fiscal 2023, or about 7.6% of Arvind Fashions' total revenue.

The company will use proceeds from the deal to invest in its brands and repay debt.

($1 = 83.2510 Indian rupees)

(Reporting by Chris Thomas in Bengaluru; Editing by Janane Venkatraman)

(([email protected];))

Oct 23 (Reuters) - Shoppers Stop Ltd SHOP.NS:

• FURTHER MADE INVESTMENT UP TO 50 MILLION RUPEES IN PREFERENCE SHARE CAPITAL OF UNIT, GLOBAL SS BEAUTY BRANDS

• MADE INVESTMENT BY WAY OF SUBSCRIPTION TO RIGHTS ISSUE

Source text for Eikon: ID:nBSEcffc9f

Further company coverage: SHOP.NS

(([email protected];;))

** Shares of Shoppers Stop SHOP.NS fall as much as 5.8% to 651 rupees

** The department store operator reported an 82% YoY fall in its Sept-qtr net profit; rev from ops up 3% YoY

** About ~ 39,500 shares change hands vs 30-day moving average of 67,450 shares

** Five analysts rate the stock "buy" or "strong buy", one "hold", four "sell" or "strong sell"; median PT is 850 rupees - LSEG data

** SHOP stock down 7% YTD

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Oct 18 (Reuters) - Shoppers Stop Ltd SHOP.NS:

• INDIA'S SHOPPERS STOP SEPT-QUARTER CONSOL NET PROFIT 27.3 MILLION RUPEES VERSUS 162 MILLION RUPEES

• SHOPPERS STOP SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 10.39 BILLION RUPEES VERSUS 10.13 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SHOP.NS

(([email protected];))

** Shares of Shoppers Stop SHOP.NS falls as much as 9.8% to 733 rupees, their steepest drop since April 29, 2022

** Department store operator says MD & CEO Venu Nair resigned; promotes Chief Commercial Officer Kavindra Mishra as executive director & CEO

** More than 348,000 shares change hands in early trade, vs 30-day avg of 117,815 shares

** Six brokerages rate the stock "buy" or higher, 1 "hold" and 4 "sell" or lower; their median PT is 850 rupees - Refinitiv data

** Stock up ~15% this year, as of last close

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Aug 24 (Reuters) - Shoppers Stop Ltd SHOP.NS:

• KAVINDRA MISHRA PROMOTED TO EXECUTIVE DIRECTOR AND CEO

• MD AND CEO VENU NAIR RESIGNED

Source text for Eikon: ID:nNSEb12QYV

Further company coverage: SHOP.NS

(([email protected];))