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Luxembourg's Global Fashion Group Q3 revenue falls, maintains 2026 forecast

By Reuters News


Overview

  • Luxembourg online fashion retailer's Q3 revenue declined 7.7% yr/yr at constant currency

  • Gross margin rose to 47.0% and adjusted EBITDA improved to €3.4 mln

  • Company cites weaker demand and higher costs as reasons for revenue decline


Outlook

  • Company expects 2026 NMV of €1.05-1.09 bln, now guiding towards bottom of range

  • Company maintains 2026 adj EBITDA guidance of €18-25 mln

  • Company says October trading was challenging, especially in Brazil, and expects demand to normalise


Result Drivers

  • COST-OF-LIVING PRESSURE - Co said higher energy prices and elevated interest rates weighed on consumer discretionary spending

  • LATAM DEMAND WEAKNESS - Co said weaker Brazilian consumer confidence and uncertainty around Brazil's election contributed to NMV decline in LATAM

  • SEA TURNAROUND - Co said SEA region saw revenue decline but improved gross margin due to reduced discounting and focus on profitability


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Miss*

EUR 156.70 mln

EUR 158 mln (1 Analyst)

Q3 Adjusted EBITDA

EUR 3.40 mln

Q3 Gross Margin

47.00%

Q3 Adjusted EBITDA Margin

2.10%

Q3 EBIT

-EUR 8.20 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

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

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

  • Wall Street's median 12-month price target for Global Fashion Group SA is €0.78, about 61.5% above its November 4 closing price of €0.48


Reuters Recommended Reads

  • Nov 3 - Zalando Q3 revenue slightly beats estimates on B2B expansion

  • Nov 3 - Retailer Zalando launches AI shopping agent as margins squeezed

  • Nov 3 - Online fashion retailer Boozt Q3 revenue rises on wider assortment


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.)

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