12 November 2022, Mumbai:
For the second quarter Trent’s net income rose by 41 per cent year over year. Revenue—including GST—rose 78 per cent, the largest amount ever for a quarter. Consolidated sales increased by 66 per cent and the business recorded a net profit of Rs 93 crores in the second quarter of the current fiscal year.
Trent Ltd continues to broaden its reach and strengthen its lifestyle offerings across ideas, categories, and channels. Its fashion concepts once again demonstrated strong growth momentum in the second quarter.
Trent, the retail division of the Tata Group, manages five brands and formats, including the upscale Westside, the value-oriented Zudio, the Star and Trent Hypermarket banners for food, grocery, and daily necessities, and Landmark Stores for family entertainment.
The business operates more than 500 outlets in total across these five models. Over six per cent of Westside’s sales came from online sources on Westside.com and other Tata platforms, representing a 32 per cent increase.
The growing markets which include footwear, innerwear, and beauty and personal care contribute more than 15 per cent of sales.Trent continues to focus on in-house brands but is open to evaluating designer brands as and when any interesting opportunity presents itself.
