India's fast-fashion retailer Trent reports higher quarterly revenue
India's fast-fashion retailer Trent reports higher quarterly revenue Oct 5 (Reuters) - Indian apparel retailer Trent TREN.NS reported a 23% year-on-year rise in standalone revenue for the second quarter on Monday, helped by growth across its fashion and lifestyle businesses.
Here are some more details:
Revenue from operations rose to 57.88 billion rupees ($601.09 million) in the July-September quarter, Trent said in an exchange filing, up from 47.24 billion rupees a year earlier
The result comes as Indian consumer companies signal resilient demand
On Monday, Marico MRCO.NS forecast double-digit revenue growth and Godrej Consumer Products GOCP.NS said it expects revenue growth in the teens for the September quarter
As of September 30, Trent operated 1,342 stores, including its Westside, Zudio and other lifestyle brands, up from 1,101 a year earlier
The retailer added 17 Zudio stores and 10 Westside outlets during the quarter, compared with 40 Zudio and 13 Westside stores added a year earlier
Major Indian apparel retailers have been contending with softer discretionary demand, with attention shifting to same-store sales performance following a prolonged period of rapid growth
Trent's fashion business competes with low-cost retailers such as Vishal Mega Mart VSSL.NS, V-Mart Retail VMAR.NS, Style Bazaar and Reliance Trends, as well as premium apparel brands including Shoppers Stop and H&M
Trent is the retail business of India's salt-to-steel conglomerate Tata Group
($1 = 96.2925 Indian rupees)
(Reporting by Abhinav Parmar in Bengaluru; Editing by Sahal Muhammed)
((Abhinav.Parmar@thomsonreuters.com;))
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