Sweden's Pierce Q1 revenue up 5%, adjusted EBIT turns positive on cost controls

Pierce AB (publ)

08/05/2026 07:08

Overview

Sweden e-commerce retailer's Q1 net revenue rose 5%, with adjusted EBIT turning positive

Company cites cost efficiency gains from transformation program despite SEK 6 mln in temporary costs

Cash flow improved to SEK 36 mln, and credit facility was renewed during the quarter

Outlook

Pierce expects transformation-related costs to phase out as IT systems are fully implemented in H2 2026

Company plans gradual expansion into new markets and adjacent verticals as technology platform rolls out

Pierce sees potential to participate in industry consolidation despite challenging market conditions

Result Drivers

COST EFFICIENCY - Co said improved cost efficiency from its transformation program helped adjusted EBIT turn positive, despite SEK 6 mln in temporary transformation costs

WEATHER IMPACT - Favorable weather in the Nordics supported Sledstore demand, but colder-than-usual conditions in Europe hurt motorcycle category sales

MARKETING EFFICIENCY - Improved performance marketing efficiency helped keep margin after variable costs stable despite a 1.3 percentage point decline in gross margin

Company press release: ID:nMFNbr0cVH

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
SEK 421 mln
Q1 Adjusted EPS
-SEK 0.08
Q1 Adjusted EBITDA
SEK 11 mln
Q1 Gross Margin
41.30%
Q1 Adjusted EBIT
SEK 2 mln
Q1 Adjusted EBIT Margin
0.50%


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the department stores peer group is "buy"

Wall Street's median 12-month price target for Pierce Group AB (publ) is SEK17.00, about 70% above its May 7 closing price of SEK10.00

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 13 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.)