Sweden's Synsam Q3 sales rise 9.9% but profit falls

Overview

• Sweden-based optician group's Q3 net sales rose 9.9% year-over-year, organic growth 7.6%

• Q3 EBIT and gross margin both increased from a year earlier

• Net income and EPS declined year-over-year in Q3

Outlook

• Company plans to open two to four new stores in Q4 2026

• Synsam sees significant long-term growth potential for smart glasses

• Company expects continued expansion opportunities in the Nordic region

Result Drivers

• SUBSCRIPTION GROWTH - Net sales from spectacles subscriptions rose 14.2% in Q3, with total subscription customers increasing 7.1% year-over-year

• REGIONAL PERFORMANCE - Sweden and Denmark delivered strong organic growth and improved margins, while Norway and Finland also contributed to overall growth

• HOUSE BRANDS AND NEW PRODUCTS - Investments in proprietary eyewear brands and new collaborations supported sales and expanded the product range

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy."

• Wall Street's median 12-month price target for Synsam AB (publ) is SEK76.50, about 28.4% above its November 11 closing price of SEK59.60

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads

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• Nov 11 - Denmark's DFDS Q3 revenue rises 6%; raises guidance

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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.)