Shoppers’ Stop retail turnover up by 37%

Nicole Mezzasalma

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Indian travel-retail partner of The Nuance Group records strong rise in turnover

Indian retail group Shoppers’ Stop, which operates domestic and airport stores and has recently signed an agreement to work with The Nuance Group to manage duty-free shops in the country, has reported retail turnover of R3bn ($76.2m) in the second quarter ending September 2007, an increase of 37% compared with the same period last year. The company manages two Stop & Go stores at Mumbai airport, a total of 47 Crossword book stores around the country and has won contracts at Bangalore and Hyderabad airports.

Shoppers’ Stop customer care associate and managing director BS Nagesh said: “We are pleased with the construction and fit-out progress being made in our airport retail joint venture at Bangalore and Hyderabad, and these operations are likely to open in March 2008. New store openings, service tax and changing energy prices have had an impact on operating margins.”