Sweden's Nelly Q1 revenue dips

Nelly AB (publ)

28/04/2026 07:18

Overview

Sweden online fashion retailer's Q1 revenue declined 1.8% yr/yr

Gross margin improved to 55.3% from 51.6% yr/yr

Company attributes weak results to assortment not resonating with customers

Outlook

Company did not provide specific financial guidance for the current or upcoming periods

Result Drivers

ASSORTMENT MISMATCH - Co said the main reason for weak results was that its product assortment did not resonate with customers, with insufficient newness and trend alignment

WEAKER TRAFFIC AND CONVERSION - Declines in online traffic, conversion rate, and average basket size were attributed to the less attractive assortment despite increased marketing

HIGHER COSTS - Increased marketing and administrative costs, including expansion in Germany and new roles, weighed on operating profit

Company press release: ID:nMFN9237TH

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
SEK 243.30 mln
Q1 EPS
SEK 0.17
Q1 Net Income
SEK 5.10 mln
Q1 Gross Margin
55.30%
Q1 EBIT
SEK 8 mln
Q1 EBIT Margin
3.30%


Analyst Coverage

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 16 three months ago

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.)