V2 Retail reported Q2 revenue of ₹905 crore, a 28.4% rise YoY, according to the exchange filing dated October 2. The shares dipped 3.5% on the day, pulling the 52‑week high down to ₹201.39 from ₹259.25.
Same‑store sales grew 0.5% YoY, a stark contrast to the 7.5% increase seen in Q1. The BSE filing notes that the modest lift reflects a cautious expansion strategy amid a competitive fashion‑retail landscape.
The retailer opened 49 new stores and shuttered three, netting a 46‑store gain. This aggressive footprint expansion aligns with the company’s analytics‑driven assortment approach, which management says has boosted store‑level productivity.
Q1 FY27 revenue surged 58% to ₹997 crore, suggesting that the growth rate has slowed but remains robust. Analysts point out that the decline to 28.4% in Q2 may signal early signs of margin compression as unit economics tighten.
Looking ahead, V2 Retail has not released explicit guidance for FY28, but the company’s board is expected to review its capital‑allocation strategy in the upcoming AGM. Analysts advise investors to monitor same‑store sales and inventory turns for early indications of profitability trends.