V2 Retail shares drop over 19% after Q2 FY27 update shows slower same-store growth

V2 Retail shares fell more than 19% on October 5 following the release of its Q2 FY27 business update on October 2. The value-fashion retailer reported a standalone revenue increase of 28.4% year-on-year to ₹905 crore for the quarter. Despite the overall revenue growth, same-store sales growth moderated to 0.5% year-on-year in Q2 FY27, down from 7.5% in the previous quarter. Monthly sales per square foot also declined to ₹700 in Q2 FY27 from ₹886 in Q1 FY27. The company attributed the softer metrics to the absence of the Navratri and Durga Puja festive period during the quarter and noted that a significant portion of its store network remains in the ramp-up phase. As of September 30, 2026, V2 Retail operated 427 stores with a total retail footprint of approximately 46.28 lakh square feet. Of these, 106 stores were opened in the first half of FY27, including 49 new additions and three closures during Q2 FY27. The company continues to focus its expansion on Tier 2 and Tier 3 markets across India’s growth corridors. In Q1 FY27, V2 Retail had reported stronger performance with a 58% year-on-year revenue rise to ₹997 crore and same-store sales growth of 7.5%. On the day of the update, the stock opened at ₹182.15 on the BSE, touched an intraday high of ₹185 and a low of ₹162.55. Analysts noted the stock had moved below its 100-week EMA for the first time since June 2023, with immediate resistance seen around ₹185–₹190 and support placed at ₹155–₹150.