Trent: What consumption slowdown?
Most retailers report that their business was a complete washout in April due to localised lockdowns across the country.
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Trent, one of India’s multi-category retailers, proved its mettle in the quarter gone by, reporting strong performance amid decelerating consumption visible in the economy. Strong same-store sales growth in lifestyle products, scaling up of the value fashion vertical, accelerated network expansion and cost trimming exercises in grocery retailing make us confident about the company. That said, the stock’s steep valuation limits upside. (image) Q2 FY20 review Positives - Revenue growth was led by store additions and 14 percent YoY (year-on-year) increase in...
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