Will reduce debt by Rs 300 crore by FY18 end: Shoppers Stop

In an interview to CNBC-TV18, Govind Shrikhande, Customer Care Associate & Managing Director, Shoppers Stop spoke about the results and his outlook for the company.

In Q2FY18, goods and services tax (GST) impacted the entire country and the entire trade -- came into force in July and it impacted supplies very badly between July and August, he said.

H1 like-to-like growth is at 5.5 percent and H2 has started off pretty well; can expect like-to-like growth of 8-9 percent, he added.

Deal with Future Retail to be executed by end of Q4FY18, said Shrikhande.

Next year holds tremendous promise for our business, he further mentioned.

We plan to reduce debt by Rs 300 crore by FY18 end, he said.

For full interview, watch accompanying video...