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Resurfacing September results: Trent Q2 revenue rose 23% to ₹5,788 crore as Zudio crossed 1,000 stores
Trent reported standalone Q2 FY27 revenue from operations of ₹5,788 crore, up 23% year-on-year, and opened its 1,000th Zudio store. The portfolio stood at 1,342 stores on September 30, 2026, with 10 Westside and 17 Zudio stores added net in the quarter.
up 23%
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Reported figures
From the report. Source details below
| Q2 FY26 revenue from operations: | ₹4,724 crore |
|---|---|
| H1 FY27 revenue: | ₹11,454 crore |
| H1 FY27 revenue growth: | 21% |
Why it matters to operators and investors
Trent grew revenue 23% in Q2 while adding only 27 net stores (17 Zudio, 10 Westside) to a 1,342-store base, so most of the growth came from stores already open and the pace of new openings mattered less, which is the productivity benchmark value-apparel rivals will be measured against.
What to watch next
- Q3 FY27 standalone revenue growth versus the 23% posted in Q2 and the 21% H1 rate
- Group store count after December 31 versus 1,342, and the split of Zudio and Westside additions
- Any disclosure of like-for-like or per-store growth alongside the next results
- Price cuts or new store-opening announcements from value-fashion competitors
- Management commentary on the Zudio expansion pipeline and the pace for the rest of FY27
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Trent is likely to keep opening Zudio stores at a pace at least comparable to the 17 net additions in Q2, since the 1,000-store mark gives it scale to cover more towns.
- Expect Trent to keep Westside expansion more measured than Zudio's, in line with the 10 net additions this quarter, while it concentrates capital on the faster-growing format.
- Value-fashion rivals, including the private-label formats of large retail groups, may step up store openings or price promotions to defend share against Zudio.
- Investors and analysts are likely to shift their focus from headline revenue growth to like-for-like growth and margins as the store base passes 1,342.
- Trent may lean on the festive season to push growth, with Q3 showing whether the 23% Q2 rate was a peak or the start of a higher run rate.
The source
Filed
Confirmed by NDTV Profit, Mint, Financial Express, Storyboard18, Moneycontrol, ET Retail, Business Today, The Hindu BusinessLine, India Today, Apparel Resources India, India Retailing
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