Company Update : Trent by Motilal Oswal Financial Services Ltd
.jpg)
Strong revenue print (+22.5% YoY in 2Q, vs. estimate of ~18%)
* Standalone revenue stood at INR57.9b (up 22.5% YoY, vs. our estimate of ~18% YoY and ~18.5% YoY in 1Q).
* Revenue from sale of products (net of GST) grew ~23% YoY in 2Q and ~21% YoY in 1H.
* 23% YoY revenue growth was primarily driven by ~22% YoY increase in store count. Revenue per store declined ~1% YoY (vs. -5% YoY in 1QFY27), indicating easing of cannibalization impact.
30 net store addition in 2Q; Westside store addition accelerates
* The company added 30 stores in 2Q, bringing the total fashion format store count to 1,342 (up 22% YoY).
* Westside added 10 net store, bringing its overall store count to 311 (+19% YoY).
* Zudio witnessed 17 net store openings in 2Q to reach 999 stores (+24% YoY).
* Trent’s other fashion format store count increased by 3 QoQ to 32 (-6% YoY).
For More Research Reports : Click Here
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
