Brands
Shoppers Stop returns to profit in December quarter despite labour hit
MUMBAI: Retail, it turns out, still knows how to dress up for the occasion. Shoppers Stop reported a return to profit in the December 2025 quarter, navigating festive demand, inventory resets and a one-time labour code impact in what proved to be a mixed but resilient performance.
For the quarter ended December 31, 2025, standalone revenue from operations stood at Rs 1,320.85 crore, taking total income to Rs 1,344.74 crore. After expenses of Rs 1,312.33 crore, the retailer posted a profit before tax of Rs 14.92 crore, supported by seasonal demand and tighter cost control. Net profit for the quarter came in at Rs 12.61 crore, compared to a loss in the preceding quarter.
However, the numbers were not without their wrinkles. An exceptional charge of Rs 17.49 crore was booked following the implementation of the New Labour Codes in November 2025, resulting in a one-time increase in employee benefit provisions. Despite this, Shoppers Stop managed to stay in the black for the quarter.
On a nine-month basis, standalone revenue rose to Rs 3,590.35 crore, though the company reported a loss of Rs 27.96 crore after accounting for the exceptional labour-related impact. Earnings per share for the December quarter stood at Rs 1.14 on both a basic and diluted basis.
At the consolidated level, the story was similar. December quarter revenue reached Rs 1,415.82 crore, with profit after tax at Rs 16.12 crore. For the nine months ended December 31, 2025, consolidated revenue totalled Rs 3,833.53 crore, while losses narrowed compared to the previous year.
Management flagged festive demand, inventory discipline and operational efficiency as key drivers, even as margins were weighed down by promotions and regulatory changes. The retailer also reiterated that it continues to contest the retrospective levy on service tax related to renting of immovable property, amounting to Rs 20.11 crore at the consolidated level, which remains unpaid pending a Supreme Court decision.
Taken together, the December quarter suggests that while Shoppers Stop is still adjusting to structural and regulatory shifts, it has managed to stitch together a profitable festive season proof that in retail, timing and tailoring still matter.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
