"We preponed our sale in Q3 by about seven days and in Q4 we curtailed the sale by about ten days, both combined impacted the like-to-like growth, said Govind Shrikhande, Customer Care Associate and Managing Director, Shoppers Stop.

Retail chain Shoppers Stop reported a standalone net profit of Rs 20.78 crore for the fourth quarter ended March 31, 2018.

Shrikhande said that renovation in key malls continued to impact sales.

"Our focus in the last two quarter has been on financial restructuring and we believe that we have been able to pull it off pretty well,” he added.

We expect FY19 like-to-like sales growth at 7.5% , said Shrikhande.

On debt front, he said that we reduced debt by Rs 500 crore last year and will be debt free in FY19.

First Published:Apr 30, 2018 3:12 PM IST