Trent's Strong Q2 Growth Sparks Analyst Divide on Retail Outlook

Trent Limited's standalone revenue surged to Rs 5,788 crore in the quarter ended September 30, 2026, marking a 23 per cent increase compared to the same period last year. The performance reflects strong momentum in the company's retail operations and consumer demand across its portfolio brands.

The company's expansion trajectory gained pace during the quarter, with its total store count climbing to 1,342 outlets. The growth was driven by the addition of 10 Westside stores and 11 Zudio outlets, reinforcing the company's multi-brand retail strategy and geographic penetration.

The contrasting analyst perspectives underscore the divergence in market expectations for the retail sector. Morgan Stanley's optimistic outlook reflects confidence in Trent's execution capabilities and growth prospects, citing the company's strong Q2 performance and expansion momentum. In contrast, Goldman Sachs and Citigroup have adopted a more measured stance, suggesting investors exercise caution amid prevailing market uncertainties.

Trent's diversified store portfolio, spanning premium and value segments, has positioned the company to capture demand across consumer segments. The company's consistent store additions indicate management confidence in sustaining growth momentum in an evolving retail environment. Investor focus is likely to remain on whether the company can maintain this growth trajectory while managing profitability metrics.