Future Lifestyle overtakes Shoppers Stop

Mumbai: Future Lifestyle Fashions (FLF) posted 17.5% rise in net sales for fiscal ended March 2017, surpassing department chain Shoppers Stop in annual sales for the first time ever.

FLF, which runs Central, Brand Factory and more than a dozen brands including Indigo Nation and Lee Cooper, had sales of Rs 3877 crore during the year. In comparison, K Raheja’s Shoppers Stop with an eponymous department chain, home format Home Stop and specialty beauty formats such as Estee Lauder and Mac posted sales at Rs 3677.6 crore. However, SSL’s consolidated revenue — including grocery format Hyper-City and book and music chain Crossword — was higher at Rs 4935 crore. In FY15-16, FLF posted net sales of Rs 3300 crore, compared to Shoppers Stop that had revenues of Rs 3385 crore.

The Kishore Biyani promoter retailer doubled its same store sales growth at 16.4% during the year compared to 8.6% a year ago, according to its investor presentation submitted to the Bombay Stock Exchange.

During the quarter ended March, it posted a net sales of Rs987 crore, a 16% jump over last year with net profit at Rs19 crore. A year ago, it had sales of Rs850 crore with net profit of Rs5 crore during the same quarter.