HOME > BUSINESS > Shutters down on two Shoppers Stop, one Hypercity outlets

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.

Follow ULTRA.news
Godrej Properties announces new projects in Bangalore, Gurgaon Real Estate developer Godrej Properties said it kicked off two new projects -- both residential apartments -- in Gurgaon and Bangalore.The Gurgaon project is is of 98,000 square meters or 1.05 million sq. ft., while the Bangalore project will add 58,000 square meters of salea...
SpiceJet enters offline retail, offers free tickets to Goa, Bangkok Airline SpiceJet said it has opened its first physical store under its new ‘SpiceStyle’ retail brand at Galleria Mall in Gurgaon, near Delhi.The launch of its first physical store marks SpiceStyle’s entry into the offline segment besides its ecommerce portal and a brand sto...
IT woes to bring down real estate rentals in Bangalore, IT hubs With IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the country's software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon in NCR are expected to see 10-20 per cent reduction in the housing rents...
SpiceJet enters e-commerce business with Amazon SpiceJet, arguably the most aggressive low-cost carrier in India, has entered the e-commerce business with a new venture named 'SpiceStyle!' and also tied up with online giant Amazon.SpiceStyle.com mostly offers fashion itemsProducts from the company will be available vi...
Honda Motorcycle to open 53 second-hand shops in India this year Encouraged by a strong response, Honda Motorcycle & Scooter India said today it was advancing its roll-out target for its 'Best Deal' second-hand motorcycle chain in India.The company said it would add another 50 such pre-owned motorcycle shops in India in the remaining nine...
V2 Retail sees organized sector share tripling to 24% in three years V2 Retail, formerly known as Vishal Retail, said it expects organized retail in India to grow a strong pace in the next three years to increase its share of the overall market to 24% by 2020.At present, the share of organized retail -- mostly super markets and hyper markets,...
Pantel’s Vijender Singh buys Den Snapdeal home shopping channel Den Networks said it sold its home shopping channel to Pimex Broadcast Private Limited based in Noida.Den entered the business under a joint venture with Jasper Infotech, the holding company of e-commerce firm Snapdeal.com, two years ago."The name of DEN and Snap deal wi...
Godrej Properties enters Sohna market in NCR Godrej Properties Ltd announced its first project in Sohna in the National Capital region.The project, which involves approximately 157,000 square meters (approximately 1.7 million sq. ft.) of saleable area , will be located in Sector 33."This project will offer and will...
Demonetization hits real estate builder prices, but not resale flats – report Demonetization of 500- and 1000-rupee notes hurt the real estate sector in North India, while its impact on the sector in South India was negligible, according to Magicbricks’ PropIndex for Jan-March 2017.The report, brought out by the eponymous real estate classifieds site, ...
Airports Authority identifies eight airports for real estate development The Goa Airport operated by AAIAirports Authority of India said it has identified eight airports where it intends to carry out commercial real estate development once the government relaxes the relevant rule.The airports are Lucknow, Kolkata, Amritsar, Varanasi, Bhubanes...
Pune, Western Maharashtra emerge as air pollution hotspots in India Air pollution, particularly levels of Nitrogen Dioxide and Sulfur Dioxide, rose sharply in towns and cities in Western Maharashtra in 2016, according to data from the National Air Quality Monitoring Programme of India.Though 2016 saw a worsening of air quality across the coun...
What Demonetization? Godrej Properties sells 300 flats in Pune in 2 months Godrej Properties said it has sold over 300 out of the 400 apartments put up for sale at its Godrej Greens project in Pune.The sale comes in the backdrop of a slow real estate market complicated by a recent crackdown on 'black money' or tax evasion. The crack down was widely...
Will OnePlus 3 from Flipkart get warranty support from manufacturer? OnePlus 3, arguably the most successful premium phone of 2016 in India, may not get warranty support from the manufacturer if purchased from Flipkart, going by a statement by the company.The company issued a statement that seemed to suggest that Flipkart's sale of the mod...
Mumbai’s Viviana Mall installs India’s largest rooftop solar plant Viviana Mall in Mumbai has installed one of the largest single-site solar plants in India.The mall, located in Thane, has constructed a 900,000 volt-ampere rooftop solar power plant, which the company said was the biggest in India.900,000 volt-ampere refers to the peak ca...
Housing.com says demonetization to hit Real Estate sales: re-enters rentals Anticipating a slow down in home sales in the coming months in the wake of the crackdown on 'black money', housing.com will restart its rental classifieds business soon.The portal, which had seen an ugly spat between founder Rahul Yadav and investors two years ago, had sh...
After pumps, Bata stores to provide cash withdrawal The story has been withdrawn by the company.
Demonetization: Sobha Developers offers instalment scheme on Dubai project Sobha Group, a real estate developer focused on South India and the Middle East, has announced a new deferred payment plan for apartments and villas at Sobha Hartland – an integrated freehold community on the Dubai Water Canal in Mohammed Bin Rashid Al Maktoum City. Under the...
Shoppers Stop opens new MAC outlet in Malad, Mumbai Retailer Shoppers Stop Ltd. said it has opened one ´M.A.C´ branded outlet at at Inorbit Mall in Malad, Mumbai.With the opening of this store the company now has 41 M.A.C stores under its operations.Shoppers Stop is an Indian retailing company promoted by the K Raheja Corp...
Card payments slow as people start swiping more after Demonetization Swiping a debit or credit card at the local grocery store or supermarket is supposed to be the best way to beat the demonetization blues, but going by social media feedback, these networks are getting overloaded as well.In fact, our own staff have found that they have had to ...
Emgee Group to build apartments priced at Rs 8-12 lakh near Mumbai Emgee Group, known for its high-end properties, said it is planning to enter the affordable homes segment by building homes in price range of Rs 8 lakh to Rs 14 lakh with a configuration of 300 sq ft to 500 sq ft each unit.With this venture the company aims to help home-b...
Kerala merchant’s union strike against black-money currency move Kerala's merchants and traders union has asked its members to shut all shops from Tuesday to protest the Center's decision to swap currency notes to control black money.The central government has withdrawn existing 500 and 1000 rupee notes and asked everyone holding the same ...
Crossword opens at Viviana Mall, Mumbai Viviana Mall, one of the leading retail malls in Mumbai Metropolitan Region, said the bookstore Crosswors has opened its 1800 sq ft store in the mall.Crossword currently has 94 stores (50 own stores and 44 Franchised stores) spread in different cities across India. It is a wh...
Big Bazaar seizes the currency opportunity, keeps stores open Future Group has decided to keep its Big Bazaar supermarket open till midnight today."We are getting a lot of enquiries from customers... so we've decided to keep it open till about 11:50 PM," Kishore Biyani, chairman of Future Group told the media.Though it is being port...
Will Currency Ban Prick the Real Estate bubble? One of the most interesting aspects of the new move to 'churn' high-value currency notes will be its impact on real estate prices.The real estate sector was already reeling from high interest rates, slow economic growth and a fatigue due to the constant rise in prices.How...
Ambrane launches ´BT-5000´ bluetooth speaker @ Rs 1499 IT brand Ambrane India said it launched a new bluetooth speaker BT5000, priced at just Rs 1499.Ambrane is one of the leading IT brands in computer peripherals, Mobile Accessories and No. 1 in Power Banks.The speaker has in-built Magnetic trumpet that improves the quality...