Trent Ltd, the parent company of Westside, has reported a net profit of Rs 113 crore for the third quarter of FY22, compared to a net profit of Rs 64 crore in the same time last year. Its revenue from operations for the quarter ended December 31, 2021, stood at Rs 1,499.08 crore, compared to Rs 853.63 crore in the same time last year. 

The company also reduced its expenses to Rs 1,383.62 crore in the quarter, compared to Rs 3,175.07 crore in the same time last year. 

Trent operates 197 Westside and 177 Zudio stores. It remains focused on accelerating its store expansion program. Also, it is committed to delivering an aspirational lifestyle experience across its portfolio. In keeping with this agenda, Trent is prioritising refresh of its stores and simultaneously consolidating/ exiting stores that are suboptimal from a brand perspective.

Speaking about the impact of Covid-19, Trent said over recent quarters, notwithstanding the pandemic, “we have retained the emphasis on inventory disciplines and initiatives to drive supply chain efficiencies,” it said in a press note. It further added, “While the Omicron wave impacted sales in January, it was mitigated in part by the strong online traction for Westside and the recovery in the last fortnight has been encouraging.” 

Westside registered revenues of over Rs 1,000 cr for the quarter with LFL growth of 9 per cent and 49 per cent vis-à-vis FY20 (pre-covid) and FY21 respectively.

Speaking on the performance, Mr. Noel N Tata, Chairman, Trent Ltd said, “The third quarter witnessed a strong business rebound and we have been pleasantly encouraged by the rapid recovery in customer offtake. In many ways, the playout in Q3 is indicative of the performance potential of our brands, both in terms of growth as well as profitability. Our prospects remain robust owing to an accelerating shift to branded products, emergence of digital/ seamless channels of engagement and a growing appetite for aspirational yet strong value propositions.

On the fashion front, Trent is on-track to have more than 425 fashion stores by March 2022. Increasingly, the Star food business with tight footprint stores, sharp pricing and focus on fresh & own brands, is a model that is witnessing resilient customer traction. T

“I increasingly believe we are moving on to the next phase of recovery and growth. We are confident that the business has the expertise and importantly the ambition to pursue market opportunities with an integrated back-end and nevertheless differentiated customer propositions. We remain committed to building our differentiated brands and a strong expansion of our reach through stores and digital platforms,” he said. 

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