DMart’s FY27 store-opening outlook slows to about 75, triggering brokerage target cuts
Avenue Supermarts has guided for roughly 15% annual store growth, or about 75 new DMart stores in FY27. Goldman Sachs and Morgan Stanley cut target prices as they lowered expansion, same-store sales and earnings assumptions; management remains focused on disciplined DMart Ready growth.
DMart guided to slower annual store expansion of about 15%, or 75 openings in FY27, prompting target-price cuts by Goldman Sachs, Morgan Stanley and Macquarie. Management will prioritise disciplined DMart Ready growth over quick commerce, while analysts flag subdued demand and online-grocery positioning risks.
Why this matters
The outlook follows DMart’s stated 15% store-growth target and priority on profitable e-commerce, while adding to concerns after shares fell over FY27 opening plans and metro margins tightened amid quick commerce.
Store-opening is steady, with 1,591 signals in the past 90 days.