Commenting on media reports that said Shoppers Stop is planning to sell some of its stake in one of its retail chain’s – Hypermarket, the company’s managing director BS Nagesh denied any such plans.
However, Nagesh accepted that there has been at least 12 per cent decline in the footfalls and sale at Shoppers Stop outlets in Mumbai after the terror attacks. Nevertheless, he speculated that sales would soon see an uptake as soon as window shoppers return to malls.
—IndiaRetailing Bureau
