Norway's Kid ASA Q2 revenue beats, partly helped by Kid Interior segment growth
Norway's Kid ASA Q2 revenue beats, partly helped by Kid Interior segment growth
Overview
Norway home textiles retailer's preliminary Q2 revenue rose 9.1%, beating analyst expectations
Like-for-like sales increased 8.3% and online sales accounted for 15.9% of Q2 revenue
No new stores opened in Q2; three stores refurbished and three closed across segments
Outlook
Company did not provide specific guidance or outlook in the press release
Result Drivers
LIKE-FOR-LIKE SALES - Co said higher like-for-like sales drove Q2 revenue growth across both Kid Interior and Hemtex segments
ONLINE SALES - Co said online sales accounted for 15.9% of Q2 revenue, with Kid Interior online sales up 48.7% and Hemtex up 36.4%
Company press release: ID:nWkr6MYPfT
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | NOK 914.80 mln | NOK 899 mln (4 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the home furnishings retailers peer group is "buy"
Wall Street's median 12-month price target for Kid ASA is NOK150.00, about 25.4% above its July 7 closing price of NOK119.60
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)