Trent, a Tata Group company, missed quarterly revenue growth in Q3. The Apparel retailer reported a standalone revenue of Rs 5,220 crore IN Q3FY26, up 17% ‌from Rs 4,466 crore reported in Q3FY25.

The company informed the exchanges on Monday evening after market hours. The stock reacted negatively to the Q3 update in Tuesday’s trade. Shares of Trent fell as much as 7.46% intra-day, emerging as the top loser on India’s benchmark Nifty 50. The stock has declined 13.97% in the past three months and 25.37% in the last six months. On a year-to-date basis, the stock has fallen 4.49%.

Store network crosses 1,160 outlets

For the nine months ended December 2025 (9MFY26), the company’s standalone revenue stood at Rs 14,604 crore, marking an 18% increase over Rs 12,368 crore reported in the corresponding period of the previous financial year.

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As of December 31, 2025, the company’s total store portfolio stood at 1,164 stores across formats. This included 278 Westside stores, 854 Zudio stores, including four outlets in the UAE, and 32 stores under other lifestyle concepts.

During Q3FY26, the company added a net 17 Westside stores and 48 Zudio stores. On a nine-month basis, it opened 30 Westside stores and 89 Zudio stores, reflecting an aggressive expansion strategy, particularly for its value-fashion brand Zudio.

The company highlighted that the standalone revenue figures are subject to audit by the statutory auditors and it is yet to announce the date it will release its Q3FY26.

Trent Q2FY26- Highlights

In its Q2FY26, Trent reported an 11.44% YoY increase in consolidated net profit to Rs 373.42 crore. Its consolidated revenue from operations jumped 15.9% to Rs 4,817.68 crore.

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Revenue growth disappoints Street

The revenue growth was unchanged from the previous quarter. “It’s a ‌miss”, said Karan Taurani, an analyst with Elara Securities. “Pressure continues for ‌them due to higher competitive intensity including from Max Fashion and Style Union.

“The revenue ‌growth was ‍similar sequentially ⁠but ​lower than the 37%, 29% and 20% growth rates reported in the ⁠previous quarters, Morgan Stanley said.

“Growth trends ⁠looks to be moderating,” said analysts at Antique Stock Broking, cutting their target price on the ‌stock by over 14% to 5,700 rupees.