The Mumbai retailer increased quarterly revenue by 22% and added 27 fashion outlets, though analysts say store openings remain a bigger growth driver than stronger sales at existing locations.
Trent reported stronger September-quarter results, with profit rising as the Mumbai-based retailer continued to widen its store network and lean on its value-fashion brands. Consolidated profit after tax increased 25% from a year earlier to 4.68 billion rupees, while revenue from operations climbed 22% to 58.73 billion rupees. Operating EBITDA rose 37% to 7.85 billion rupees, underlining a quarter in which sales growth was accompanied by improved operating performance.
The company’s growth was broad-based, but the clearest momentum remained in apparel. Revenue from its Star business increased by more than 20% during the quarter, according to the company’s figures. Trent opened 17 Zudio stores and 10 Westside outlets in the period, lifting its fashion portfolio to 1,342 stores as of 30 September, up from 1,101 a year earlier. The retailer said its reach extended across 339 cities, including three in the United Arab Emirates, and that Zudio opened its 1,000th store during the quarter. Trent also operated 87 Star stores in 13 cities after adding one location.
The results arrived against a mixed demand backdrop. Reuters, in a report carried by Marketscreener, said affordable fashion continued to draw shoppers even as inflation and tighter discretionary spending affected consumption patterns. The news agency also noted that some festive-season buying had shifted into December, while analysts warned that much of the growth in value-fashion retail was still being driven by store openings rather than by stronger sales at existing outlets. That makes metrics such as same-store productivity, stock control and sourcing costs especially important in judging whether Trent’s pace can be sustained.
Those pressures matter because Trent competes across several retail tiers rather than in a single niche. Its Westside chain sells in-house labels across apparel, footwear, beauty, accessories and home décor, while Zudio is positioned as an affordable fashion format and Star Market covers groceries and other household essentials, according to the company’s profile. Reuters said the company faces competition from Vishal Mega Mart, V-Mart Retail and Reliance Trends in value fashion, while Shoppers Stop and H&M are among its rivals in more premium apparel. Trent also has a leadership change ahead, with Bahram Vakil set to take over as chairman on 12 November, after Noel Tata steps down the day before.
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