Baazar Style Retail Q1 Update: Revenue Estimated To Rise 37%
The company has opened 22 new stores in June, while it has closed four.
Baazar Style Retail Ltd. has estimated a 37% year-on-year revenue growth in the first quarter of fiscal 2026.
Standalone revenue for the retail chain during the April–June period is forecasted to increase to Rs 377.7 crore, according to its quarterly business update released on the bourses on Wednesday.
The company's sales per square feet value stands at Rs 664 per month, for the quarter ended June. The company has opened 22 new stores in the month of June, while it has closed four.
Baazar Style Retail plans to open up to 50 stores annually over the next two years to drive growth. The multi-brand apparel retailer will focus on expansion into small towns.
Speaking to NDTV Profit, the fashion retail chain's managing director, Shreyans Surana, said the company aims to achieve this expansion target while strategically investing in warehouses and maintaining a healthy growth rate.
ALSO READ
Zerodha's Nithin Kamath On Jio-Blackrock: 'Not A Business Where Deep Pockets Mean A Large Moat'
While the new stores will be opened across locations, the focus will remain on smaller cities. Around 66% of Baazar Style Retail’s existing stores cater to tier three and tier four cities.
"This financial year, we have focussed a lot on cities like Kolkata. Largely, the target (for new stores) will be in tier 2, tier 3, and tier 4 only," he added.
Shares of Baazar Style Retail closed 1.56% higher at Rs 322 per share. This compares with a 0.35% decline in the benchmark Nifty 50. The stock has risen 3.92% year-to-date but fell 19.56% since listing in September 2024.
Three analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 18.8%.
