Trent says Q2 revenue grew 39% over last year, opened 43 stores during the quarter 

Trent Limited has announced its financial results for the quarter ended September 30, 2024 (standalone and consolidated), which shows that its standalone revenues and Profit Before Tax were up 39% and 48% respectively over Q2FY ‘24.   

The company also shared that it now operateswith a significant portfolio of over 800 “large-box” fashion stores. “In Q2 we continued to deepen and expand our store footprint across concepts, with presence now across 184 cities. As of 30th September, our store portfolio included 226 Westside, 577 Zudio and 28 stores across other lifestyle concepts. During the quarter, we opened 7 Westside and 34 Zudio stores (including 1 in Dubai) across 27 cities. We also consolidated 9 Westside and 16 Zudio store,” said the company statement. 

“In an otherwise subdued consumer market, key initiatives including with respect to the product offer, the store portfolio and the operating supply chain helped us deliver encouraging results. The change in revenue profile across our concepts remains broadly in line with our strategic objectives and plans. The gross margin profile of Westside and Zudioremains consistent. Overall, the Operating EBIT* margin for Q2FY25 was 10.8% (9.8% for Q2FY24),” it added. 

The company also shared that the emerging categories of beauty & personal care, innerwear and footwear continued to gain traction with customers, contributing to over 20% of its revenues. 

Further, the company shared that the Star business, consisting of 74 stores, including the addition of 2 stores during the quarter (8 in H1FY25), continued to witness improved customer traction with growing sales densities. “This business registered operating revenue growth of 27% in Q2FY25with LFL growth of over 14%. The business continued to witnessall-round improved operating performance, driven by our own brands, staples, fresh & our general merchandise offerings which now contribute to over 73% of revenues,” added the company statement. 

Speaking on the performance, Noel N Tata, Chairman, Trent Limited said, "Consumer sentiment has remained relatively muted. This coupled with seasonality has meant that retail businesses have faced headwinds. In the forgoing context the team has delivered strong results across brands, concepts, categories and channels in Q2.”