India's Trent falls on slowest rev growth in nearly 3 years

Shoppers Stop

07/11/2024 07:27

** Shares of Trent  TREN.NS  slides 5.7%, extending losses
of 0.4% ahead of Q2 results 
    ** Clothing retailer's Q2 consol rev from ops climbs 39.4%
Y/Y, its slowest rev growth since Q4 2021 
    ** Q2 consol net profit climbs ~47% Y/Y
    ** Stock second-biggest pct loser on benchmark Nifty 50
 .NSEI , which is down 1%
    ** Trading volume 1.2x the 30-day moving avg 
    ** Avg rating on TREN at "buy" while rival Shoppers Stop
 SHOP.NS  rated "hold" - LSEG data
    ** TREN has more than doubled YTD, while SHOP has lost ~5%

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))