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Trent share price: Shares of Tata Group company Trent Ltd will be in focus today after the retailer released its business update for the December quarter. The update points to steady growth, even as the pace of expansion moderated from the sharp run-up seen over the past few years, amid a mixed consumption environment.

Trent reported a 17 per cent year-on-year rise in standalone revenue to Rs 5,220 crore in the December quarter. This compares with standalone revenue of Rs 4,466 crore in the year-ago period, excluding GST. The performance reflects continued traction in the company’s value-fashion and lifestyle formats, despite uneven demand conditions.

The growth trend continued in the nine months ended December 31, 2025. Standalone revenue for the period rose 18 per cent year-on-year to Rs 14,604 crore. In its regulatory filing, Trent reiterated its earlier commentary from an analyst meet, where it said it expects to sustain a 25 per cent revenue CAGR over the long term.

The growth was largely supported by the expansion of Trent’s core retail brands, Westside and Zudio. As of the end of December 2025, the company’s store portfolio had expanded significantly, led by Zudio with 854 stores. Zudio has also entered international markets, with stores now operating at four locations in the UAE.

Westside had 278 stores, while other lifestyle concepts together accounted for 32 operational stores. During the December quarter alone, Zudio added 48 new stores. Over the nine-month period, Zudio opened a total of 89 new stores, while Westside recorded net additions of 30 stores, translating into a net increase of 17 stores during the same period.

Goldman Sachs maintained a Neutral rating on Trent, while cutting its target price to Rs 4,550 from Rs 4,920. The brokerage said the reported standalone revenue growth of 16.9 per cent year-on-year was ahead of its estimates, aided by higher-than-expected store additions in both Westside and Zudio. However, it noted that average revenue per square foot declined 15.7 per cent year-on-year, in line with expectations, partly due to the early festive season and a weak base effect.

Morgan Stanley, meanwhile, reiterated its Overweight rating on the stock with a target price of Rs 5,456. The brokerage said Q3 standalone revenue growth was largely in line with its estimates. It highlighted steady sequential growth and strong store additions, particularly in the Zudio format, which added 48 net new stores during the quarter, ahead of expectations.

At the current market price of around Rs 4,429, analysts remain divided, balancing strong store-led growth against moderating productivity metrics and a more challenging consumption backdrop.

Shares of Trent Ltd ended Monday’s session higher, closing at Rs 4,429.45, up Rs 20.65, or 0.47 per cent.

Abhay Shukla is a Senior Sub-Editor at Zee Business, specializing in the analysis and reporting of stock markets, corporate news, personal finance, technology, and the auto sect