We expect XXL to report Q3/20 EBITDA of NOK 325m, 11% below latest Factset consensus of NOK 367m. The negative deviation is explained by a combination of lower sales growth and lower gross margins. We estimate Q3/20 sales of NOK 2.9bn, up 19% Y/Y driven by strong demand for sporting goods in all XXL's home markets. We expect gross margins to be slightly down Y/Y, explained by lower supplier bonuses and NOK weakening.
26 Oct 2020
Benefitting from consumers staying at home
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Benefitting from consumers staying at home
We expect XXL to report Q3/20 EBITDA of NOK 325m, 11% below latest Factset consensus of NOK 367m. The negative deviation is explained by a combination of lower sales growth and lower gross margins. We estimate Q3/20 sales of NOK 2.9bn, up 19% Y/Y driven by strong demand for sporting goods in all XXL's home markets. We expect gross margins to be slightly down Y/Y, explained by lower supplier bonuses and NOK weakening.