Westside, the flagship store of Tata Group’s retail arm Trent, has opened its 100th store in Bhubaneswar, Odisha. The firm is ahead of its peers like Shoppers Stop, which has around 83 stores and Lifestyle International with 56 stores in the country.
Started in 1998, Trent had only Westside stores till 2004. Subsequently, the company entered into hypermarket business and opened Star Bazaar. At present, Westside has 1.86 million sq ft of space in the country with net sales of R8,623 per sq ft. It operates three formats – Westside, Star Bazaar and Landmark.
“Westside is the only company which has focused on profitable growth since inception. While Westside numbers are not available separately the company has always been profitable as it focused on selling private labels which fetch higher margins of around 40% to 50 % in some cases,” said Arvind Singhal, chairman Technopak.
The company in the last couple of years has right-sized few stores which is a part of any retail business but has always ensured revenue and profitability, the way retailers should, Singhal said.
During the April-June quarter, Trent reported a net profit of R23 crore, up 60% on a year-on-year basis. Total sales during the period stood at R400 crore. Ebitda margin during the period was 12.43%. Rajat Wahi, partner and head, consumer, Retail and Agri said, “Westside is a successful format and going ahead the retailer is expected to continue to perform well with focus on private labels.”