Trent Beats Revenue Estimates on Footfall, Expansion
10 August 2023, Mumbai
Trent, a retail entity under the Tata Group, reported a significant 46% surge in consolidated revenue, reaching 26.28 billion rupees ($317.4 million) for the quarter concluding on June 30, 2023.
This notable growth was attributed to an upswing in foot traffic and the expansion of its store network.
Head to Head
In the same period, like-for-like sales at Trent's upscale Westside and budget-friendly Zudio outlets demonstrated a noteworthy 12% year-on-year upturn.
The company introduced seven new Westside stores and expanded its Zudio presence by 40 stores during the quarter.
Trade dynamics
The company's overall net profit on a consolidated basis exhibited a commendable increase of over 30%, reaching 1.73 billion rupees ($20.9 million) for the quarter.
However, there was a substantial rise of nearly 44% in total expenses, primarily driven by elevated stock-in-trade purchases and increased employee-related costs.
