Retailers post high double-digit revenue growth in Q2 despite festive season shift

New Delhi: Retail companies reported high double-digit revenue growth in the July-September quarter, despite the festive season shifting to the October-December period this year due to a change in the festival calendar.

Listed retailers in their quarterly updates said they continued to expand their retail footprint by opening new stores with a focus on strengthening their presence across markets.

Avenue Supermarts Ltd, which operates the D-Mart retail chain, reported an 18.4 per cent increase in standalone revenue from operations to Rs 19,206.18 crore for the second quarter ended September 30, 2026.


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The company had posted revenue from operations of Rs 16,218.79 crore in the corresponding quarter a year ago, according to a regulatory filing.

The total number of stores operated by the Damani-family-promoted retailer stood at 518 as of September 30, 2026.

Value fashion retailer V-Mart Retail posted an 18 per cent year-on-year growth in revenue from operations at Rs 953 crore during the quarter compared to Rs 807 crore in the year-ago period.

Its same-store sales growth (SSSG) stood at 3 per cent during the quarter.

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For the first half of FY27, V-Mart's revenue from operations rose 21 per cent to Rs 2,042 crore from Rs 1,692 crore in the year-ago period.

The retailer opened 23 stores and closed one store during the quarter, taking its total operating portfolio to 613 stores.

V2 Retail, another value retail chain, reported a 28.4 per cent year-on-year increase in standalone revenue from operations at Rs 905 crore in the second quarter.

The company said the growth came despite the festive season shifting from the second quarter last year to the third quarter this year.

On a calendar basis, its same-store sales growth stood at 14.9 per cent, with the base quarter of Q2 FY26 having included the Navratri and Durga Puja period, which falls in October this year.

"This timing shift underscores the importance of looking through seasonal distortions to see the underlying stability of our performance," V2 Retail said.

Its monthly sales per square foot stood at Rs 700 during the quarter.

V2 Retail opened 49 new stores and closed three during the quarter, taking its total store count to 427 as of September 30, 2026.

The company said the quarter did not include the Navratri and Durga Puja season, and 106 of its 427 stores were opened during the first half of FY27.

The festive calendar has shifted by 19 days this year, with Navratri commencing on October 11, 2026, compared to September 22 in 2025.

As a result, a larger part of the festive-led retail demand is expected to be captured in the October-December quarter this year.