Trent, ABFRL, Vishal Mega Mart, Shoppers Stop: Apparel & fashion retail players put up a good show in Q1 FY26

However, the majority of the companies have sounded optimistic and hopeful of strong growth in the coming quarters.

Trent Ltd

Tata Group retail firm Trent Ltd reported an 8.6% increase in consolidated net profit to ₹424.7 crore for the June quarter (Q1 FY26), driven by steady performance across formats.

The company had posted a consolidated net profit of ₹391.2 crore in the June-April period a year ago.

Consolidated revenue from operations in the first quarter stood at ₹4,883.48 crore, up 19% compared to the ₹4,104.44 crore logged in the year-ago period, it added.

Trent reported strong operational performance in Q1 as its operating profit rose 38% to ₹847 crore from ₹613 crore seen in the corresponding period last year.

Its operating profit margin improved by 240 basis points to 17.35% from 14.94%. Operating profit is also known as earnings before interest, taxes, depreciation and amortisation (EBITDA).

Total expenses in the period under review were higher at ₹4,368.59 crore against ₹3,703.96 crore seen in the same period of the previous fiscal year, said the company that runs different retail chains under brands, including Westside and Zudio.

For the fashion portfolio, "the like-for-like growth in Q1FY26 was in low single digits. The change in revenue participation across our concepts remains broadly in line with our strategic plans," Trent said.

"The agenda has been to drive material reach and share of revenues across key markets. Further, we are evolving the quality of our store portfolio, and we are consciously increasing the density of our presence in such markets," Trent added.

"The business delivered a steady performance during the quarter. We remain focused on evolving our differentiated consumer proposition that appeals to a wider audience across diverse markets," Trent Ltd Chairman Noel N. Tata said.

Notwithstanding continuing competitive intensity and interim trends, he said, "We believe an unwavering focus on being relevant to our customers and building resilience with our business model choices will, over time, enable us to deliver significant value."

Stating that building density of presence in key markets allows the company proximity and the ability to service its customers readily, he said both Westside and Zudio now have the scale and reach and enjoy significant consumer awareness.

"We remain on track to build a sizable and scalable pure-play direct-to-customer business in the context of the market size and opportunity," Tata noted.

Shoppers Stop

Retail chain Shoppers Stop Ltd reported a narrowing of consolidated net loss to ₹15.74 crore in the first quarter ended June 30, 2025.

The company, which had posted a consolidated net loss of ₹22.72 crore in the first quarter last fiscal, said its long-serving chairman, B. S. Nagesh, will retire from the post after 34 years of service.

Consolidated revenue from operations stood at ₹1,161.08 crore in the first quarter against ₹1,069.31 crore seen in the year-ago period, Shoppers Stop Ltd said in a regulatory filing.

Total expenses in the quarter under review were higher at ₹1,192.06 crore compared with ₹1,104.51 crore in the year-ago period, the company said.

Shoppers Stop Managing Director and Chief Executive Officer Kavindra Mishra said the company witnessed sales growth in the quarter, driven by premiumisation.

"Consumers are becoming more discerning and are willing to spend more. In a crowded marketplace, premiumisation allows retailers to stand out," the CEO added.

Private brand sales at ₹156 crore with a volume growth of 18% in apparel improved contribution and overall profitability. On the other key verticals, beauty delivered ₹219 crore with a growth of 2%, Mishra noted.

On the way forward, the CEO said, "We believe our work and strategies on premiumisation will continue to have better results soon, and besides, we focus on offering higher-quality products."

Vishal Mega Mart

Vishal Mega Mart on Wednesday, August 13, reported a 37.2% year-on-year (YoY) surge in its consolidated net profit to ₹206 crore for the first quarter of the 2025-26 financial year (Q1FY26). In the corresponding period of the previous fiscal year, its profit was at ₹150 crore.

Its profit growth was propelled by improved cost efficiencies across the board and the benefits of operating leverage that came with its expansion.

The company’s revenue from operations increased by 21% YoY to ₹3,140.3 crore during the quarter under review, compared to ₹2,596.2 crore in the June quarter of FY25, it said in a regulatory filing.

The surge in revenue was bolstered by a healthy same-store sales growth (SSSG) of 10.5%. Furthermore, the Eid and the preponement of the Ugadi festival to March 2025, from April 2025, also aided revenue growth.

On the operational front, the firm’s EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹459 crore in Q1 FY26, marking a 25.6% increase from ₹365.4 crore in the year-ago period.

Its EBITDA margin expanded to 14.6% during the reporting quarter, as against 14.1% in Q1FY25.

Commenting on the earnings, Gunender Kapur, the Managing Director and Chief Executive Officer of Vishal Mega Mart, said, “In Q1FY26, we continued to deliver a strong performance in both revenue and profitability and demonstrated the strength of our purpose-led strategy of making aspirations affordable for consumers across geographies in India.”

The company’s growth was mainly driven by the continued strength of its brand portfolio, strong footfall, and store additions. During the quarter, it added 23 gross new stores. It expanded its presence in South India (Karnataka, Kerala, among others) and opened a new store in Gujarat and Maharashtra, he added.

Aditya Birla Fashion

Aditya Birla Fashion and Retail Ltd (ABFRL) on Wednesday reported a widening of consolidated net loss at ₹233.73 crore for the June quarter of FY26. The company had posted a loss of ₹214.92 crore during the April-June quarter a year ago, according to a regulatory filing from ABFRL.

Revenue from operations was at ₹1,831.46 during the quarter as compared to ₹1,674.22 crore a year ago.

Revenue from 'Pantaloons' was at ₹1,094.13 crore as against ₹1,101.38 crore logged a year ago. Revenue from the 'Ethnic and Others' segment was down to ₹754.57 crore in the first quarter.

Total expenses were at ₹2,148.75 crore in April-June FY26.

In the quarter, ABFRL completed the demerger of the Madura business into a separately listed entity named Aditya Birla Lifestyle Brands Limited (ABLBL).

ABLBL will have its lifestyle brand business as Louis Philippe, Van Heusen, Allen Solly, Peter England, Simon Carter and youth western wear brands as American Eagle.

It also has the sportswear brand Reebok's business, for which it has a long-term licence for the Indian market.

ABFRL has its retail business under Pantaloons and Style Up, along with a host of ethnic brands such as the designer-led brands of Sabyasachi, Shantnu & Nikhil, House of Masaba and Tarun Tahiliani. It also has premium ethnic wear brands like Jaypore, Tasva & TCNS portfolio.

Vedant Fashions

Vedant Fashions, known for its flagship brand Manyavar, reported a 12.4% year-on-year (YoY) rise in standalone net profit to ₹70.26 crore for Q1 FY26, driven by healthy revenue growth and a sharp uptick in other income.

In Q1 FY26, Vedant Fashions Ltd reported a total income of ₹307.02 crore, marking a 17.5% year-on-year (YoY) growth, driven by strong operational performance and a 20.4% rise in other income to ₹25.83 crore.

Revenue from operations stood at ₹281.19 crore, up 17.3% from ₹239.81 crore in Q1 FY25. Profit before tax rose 11.4% YoY to ₹92.51 million, while net profit increased by 12.4% to ₹70.26 crore, compared to ₹62.49 crore in the same quarter last year. Basic earnings per share (EPS) for the quarter stood at ₹2.89, up from ₹2.57 in Q1 FY25.

In its earnings call, the company said that during Q1 of FY ‘26, Vedant Fashions witnessed a rebound in wedding season as compared to Q1 of FY ‘25.

"The company continues to report an industry-leading gross margin of 66.9% and a healthy EBITDA margin of around 43.2%. The company also reported a healthy PAT margin of around 25%, and the profit after tax stood at around Rs. 70 crores, with a growth of 12.4% compared to Q1 of FY 2025," it said.

Conclusion

Most companies reported an encouraging set of numbers for the quarter gone by. The festive season, along with weddings, is expected to drive earnings for the companies in the coming quarters as well.