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Trent's Q2 update disappointed Street, but outlook still bullish

Trent's Y-o-Y store growth accelerated vs Q1. With Westside adding 13 stores, Y-o-Y store growth was 15 per cent in Q2 vs 9 per cent in Q1

During the April-June period, Trent opened one store for Westside and 11 of its value offering format Zudio, which targets the affordable fast-fashion segment. (Photo: LinkedIn)
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In the first half (H1) of FY26, revenue grew 18.5 per cent Y-o-Y to ₹10,063 crore. Trent’s revenue grew at compound annual growth rate (CAGR) of 22 per cent from FY16 to FY20, driven by Westside. (Photo: LinkedIn)

Devangshu Datta
Trent’s update for July-September quarter (Q2) of FY26 led to some selling, with the fashion and lifestyle retailer reporting year-on-year (Y-o-Y) sales growth of 17 per cent, which was a moderation from 20 per cent Y-o-Y sales growth reported in the April-June quarter (Q1) of FY26. Growth in Q1FY26 itself had slowed from earlier 25 per cent due to one-off factors such as the early monsoon, drop in footfall during the India-Pakistan conflict, and one-off sourcing disruptions, per management. The further slowdown in Q2 indicates headwinds.
 
Trent’s Y-o-Y store growth accelerated vs Q1. With Westside adding 13 stores, Y-o-Y store