Shutters down on two Shoppers Stop, one Hypercity outlets

inorbit-shoppersShoppers Stop Ltd said it is closing down its two stores at Inorbit mall at Pune and Nirmal Lifestyle at Mulund due to the decrease in business and low profitability.

“The sales during last financial year from the store at Inorbit mall was Rs 2,491.20 lacs, which was 0.66% of the company’s turnover and the sales from outlet at Nirmal Lifestyle was Ts 1,667.90 lacs, which is 0.44% of the company’s turnover”, the company said.

With these closures, the company now has 81 ´Shoppers Stop´ stores under its operations.

The company also said it had closed the HyperCity store at Inorbit mall due to the low business and profit. The sale from this store for the last financial year was Rs 1,327.90 lac, which is 1.40% to the turnover of HyperCity.

With its closing the company now has 19 HyperCity stores.

HyperCity is one of India’s largest hypermarket chains, while Shoppers Stop sells premium clothing and lifestyle goods. Shoppers Stop owns 51% in Hypercity Retail (India) Ltd.