Style Baazar reaches 290 stores despite 10% Q2 revenue dip on Puja shift
By Simran KaurFashion Writer, Peepals Shakti
Representative image: OrnaW / Pixabay
Baazar Style Retail reached 290 Style Baazar stores by November 1, 2026, after Q2 revenue fell 10% to Rs 478.1 crore as Durga Puja shopping moved to October.
What Happened
Baazar Style Retail, which runs the Style Baazar chain of value fashion stores, opened three new stores by November 1, 2026, taking its network to 290, according to a company update reported on Monday, November 2, 2026. The expansion comes after a quarter in which its revenue fell: for July-September 2026 (Q2 of financial year 2026-27), revenue from operations dropped 10 per cent year on year to Rs 478.1 crore, which the company put down mainly to Durga Puja shopping moving from the July-September quarter last year into October-December this year.
Key Facts
- Store network: 290 stores as of November 1, 2026, after three openings since September 30.
- At the end of September the chain had 283 stores, after opening 14 and closing 7 during the July-September quarter.
- Rental (retail) area rose 16 per cent to 26.69 lakh square feet.
- Q2 FY27 revenue from operations: Rs 478.1 crore (Rs 4,781 million), down 10 per cent year on year.
- Half-year revenue (April-September 2026) rose 6 per cent to Rs 964.5 crore (Rs 9,645 million).
- Same-store sales, which compare stores open in both years, fell 25 per cent in Q2 and 11 per cent in the half year.
- Sales per square foot fell to Rs 642 a month in Q2 from Rs 865 a year earlier.
Why It Matters
Style Baazar is a value fashion chain, and festival shopping such as Durga Puja is a major driver of its sales, so the date the festival falls on matters for its quarterly results. In 2025 the Puja shopping fell in the July-September quarter; in 2026 it moved into October. That calendar shift explains why the same stores sold a quarter less in July-September even though the company kept opening new ones.
The numbers also show the cost of growing fast. The chain's selling space rose 16 per cent in a year, but each square foot earned much less in the quarter. Growth by adding stores works only if new space reaches good sales quickly; in a weak quarter, the extra space weighs on results.
For the wider fashion industry, the quarter is a reminder of how much value fashion depends on the festival calendar. A chain that keeps opening stores through a soft quarter is betting that demand in its markets will come back with the festive season, and management has said it expects performance to normalise as the seasonal effect fades.
Peepals calculation: Sales per square foot fell by about 26 per cent in the quarter (642 ÷ 865 ≈ 0.74), slightly more than the 25 per cent drop in same-store sales. Revenue in April-June 2026 works out to about Rs 486.4 crore (Rs 964.5 crore for the half year minus Rs 478.1 crore for Q2), so the July-September quarter was about 2 per cent smaller than the one before it (478.1 ÷ 486.4 ≈ 0.98). Last year's July-September revenue was about Rs 531 crore (478.1 ÷ 0.90). Our calculation from the reported figures.
| Measure | Q2 FY26 | Q2 FY27 |
|---|---|---|
| Revenue from operations | about Rs 531 crore (derived) | Rs 478.1 crore |
| Sales per square foot (monthly) | Rs 865 | Rs 642 |
| Stores at quarter end | not stated | 283 (290 by November 1) |
Impact
Short-term: With Durga Puja shopping now in October, the October-December quarter is expected to carry the festive sales that were missing in July-September, and the three new stores add to that capacity.
Long-term: The chain is betting on more stores in more towns. Whether that pays off depends on whether sales per square foot recover once the calendar effect passes.
Who is affected: Shoppers in the towns where Style Baazar operates, the chain's employees and suppliers, including garment makers, and its shareholders.
Key Takeaway
Style Baazar kept opening stores, reaching 290 by November 1, 2026, even as a Durga Puja calendar shift cut its July-September revenue by 10 per cent and same-store sales by 25 per cent.
Questions and Answers
How many stores does Style Baazar have?
Baazar Style Retail had 290 Style Baazar stores as of November 1, 2026, after opening three since September 30, when it had 283.
Why did Baazar Style Retail's revenue fall in Q2 FY27?
Revenue from operations fell 10 per cent to Rs 478.1 crore in July-September 2026. The company said this was mainly because Durga Puja shopping moved from the July-September quarter last year into October-December this year.
How did the company do over the first half of FY27?
Revenue for April-September 2026 rose 6 per cent to Rs 964.5 crore, though same-store sales fell 11 per cent over the half year.
What are same-store sales?
They compare sales only at stores that were open in both periods, so they show whether existing stores are selling more or less, without the effect of new store openings. Style Baazar's fell 25 per cent in Q2.
Disclaimer: Prepared by the Peepals newsroom from publicly available sources with AI assistance. Information is accurate to the best of our knowledge at the time of publication and may change. Images may be representative. Not professional advice. Report an error via our contact page.
By Simran Kaur, Fashion WriterCovers Fashion and more for Peepals Shakti. All stories by Simran Kaur
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Simran Kaur is a pen name of the Peepals Global Editorial Team, which researches, fact-checks and publishes every story. The portrait is an illustration.
