Pierce Group AB reported a 6.3% year-over-year increase in adjusted earnings before interest and taxes (EBIT) to SEK 34 million for the second quarter of 2026, alongside a 2% rise in revenue to SEK 537 million. The company’s adjusted EBIT margin improved to 6.4% from 6.2% in the same period last year, though gross margin narrowed to 43.1% from 43.7% due to product mix and pricing adjustments.
The Stockholm-based retailer, which operates 29 localized e-commerce platforms across Europe, maintained a cash position of SEK 390 million at quarter-end and held an undrawn SEK 150 million credit facility. Inventory levels declined to SEK 505 million from SEK 522 million a year earlier, while overhead costs remained flat at SEK 75 million. The company’s current ratio stood at 1.9, with a debt-to-equity ratio of 0.15.
Management highlighted ongoing challenges tied to the transition of its warehouse management system (WMS), which caused temporary disruptions in fulfillment and a two-day backlog affecting revenue. Göran Dahlin, CEO, noted that WMS stabilization is expected by the end of Q3 2026, with the final phase of the e-commerce platform rollout scheduled for Q1 2027. The phased migration, designed to avoid peak trading periods, will conclude with the largest markets in December 2026 and January 2027.
The company’s private label segment, which accounts for 35% of turnover, has underperformed, with management forecasting a return to target levels by Q1–Q2 2027. Pierce’s workforce restructuring under its
