Department Stores company Trent announced Q2FY24 results: 1. Financial Performance: - Trent Limited reported standalone revenues of Rs 3,063 crore, a growth of 59% over Q2FY23. - The company's standalone Profit Before Tax (PBT) stood at Rs 375 crore, a growth of 54% over Q2FY23. - The Compound Annual Growth Rate (CAGR) for revenues over Q2FY20 was 37% and for PBT was 60%. 2. Expansion and Store Additions: - Trent added 38 stores during the quarter, including 6 Westside stores and 27 Zudio stores across 19 cities. - As of September 30, 2023, the company's portfolio included 223 Westside, 411 Zudio, and 27 stores across other lifestyle concepts. 3. Like-for-Like Growth: - Trent's fashion concepts registered a strong Like-for-Like (LFL) growth of over 10% compared to Q2FY23. - The company focuses on delivering consistent value to customers through a differentiated product portfolio. 4. Emerging Categories: - Trent's emerging categories, including beauty and personal care, innerwear, and footwear, gained traction and contributed to over 19% of standalone revenues. 5. Star Business: - The Star business, consisting of 65 stores, witnessed improved customer traction and achieved operating revenue growth of 30% in Q2FY24 compared to the previous year. - The business experienced an all-around performance improvement, driven by fresh, general merchandise, and apparel categories. Speaking on the performance, Noel N Tata, Chairman, Trent, said, "Our lifestyle offerings across concepts, categories, and channels witnessed strong momentum in Q2FY24 despite challenging market conditions. We continue to see growing relevance for our offerings, resilience in our business model choices, and attractiveness of our differentiated platform. We will expand and deepen our store presence with the aim of being ever more proximate and convenient to customers reinforcing our brand promise. We have applied our playbook to the Star business and are witnessing strong customer traction, instilling a growing conviction to build out this growth engine in the food and grocery space. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward. The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential to address opportunities that lie ahead.” Result PDF