New Delhi, Mar 13 (PTI) Shoppers Stop today said it has closed its HomeStop store in Vijaywada due to lower than expected business and low profitability.
The company on March 1 had closed its HomeStop store at Koramangala, Bengaluru, citing the same reason.
The sale from the store in Vijaywada for the last financial year was Rs 3.18 crore, which is 0.08 per cent of the company’s turnover, it said in a regulatory filing.
The sales from the Koramangala store for the last financial year were Rs 2.05 crore, which was 0.05 per cent of the turnover of the company.
The company, however, did not provide details of the number of job loss due to the closure.
With these closures, the company has now 14 HomeStop stores under its operations.
Shoppers Stop shares closed 0.19 per cent up at Rs 537.85 on BSE.
This is published unedited from the PTI feed.