Norwegian home textiles retailer Kid ASA's Q3 revenue beats estimates
Norwegian home textiles retailer Kid ASA's Q3 revenue beats estimates
Overview
Norway home textiles retailer's preliminary Q3 revenue rose 15.2%, beating analyst expectations
Like-for-like sales increased 14.6% in Q3
Online sales accounted for 11.9% of Q3 revenue, down from 14.4% last yr
Outlook
Company did not provide specific financial guidance for future quarters or the full year in the press release
Result Drivers
LIKE-FOR-LIKE SALES - Co said Q3 revenue growth was driven by a 14.6% increase in like-for-like sales
ONLINE SALES SHARE - Online sales made up a smaller share of revenue compared to last yr, at 11.9% vs 14.4%
STORE CHANGES - Co refurbished one store and relocated another in Q3
Company press release: ID:nWkr4R7dTg
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | NOK 1.01 bln | NOK 972 mln (4 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 NOK149.00, about 23.1% above its October 7 closing price of NOK121.00
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
Oct 6 - Norway's biggest bank DNB to lay off around 400 staff amid AI-driven changes
Oct 7 - Norway plans to spend $63.6 billion from wealth fund in 2027
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)