New Delhi, Jan. 9 -- Trent Ltd has entered the new year on a dull note, coming immediately after its stock ended up as Nifty50's worst performer in 2025. The shares had plummeted 40% in 2025 and have dropped by another 7% in 2026 so far.

For some time now, investors have been concerned about the retailer's moderating sales growth on a higher base, amid muted consumer demand and increasing competitive intensity.

The recently released December quarter (Q3FY26) business update brings no cheer, showing that Trent's standalone revenue growth has declined by17% year-on-year.

It may be comforting for some investors that growth has remained steady compared to Q2, which was the fifth consecutive quarter of revenue decline.

Bernstein's analysts...