Q2 2025 Retail Sector Report
Oscar Høve Matheson
Consumer and retail companies are usually popular among investors on Pinpoint – and the Q2 2025 reporting season was no exception. Here we review how the companies performed relative to expectations.
Revenue Growth
The average revenue growth came in at +5.8%, slightly above expectations of +5.6%.
- 17% of the companies exceeded expectations
- 11% fell short
- 72% reported in line with expectations (within ±5% of consensus).
Earnings Growth
Earnings growth averaged +11.7%, marginally below expectations of +11.9%.
- 44% of the companies exceeded expectations
- 33% fell short
- 22% reported in line with expectations (within ±5% of consensus).
Share Price Reaction
The average share price reaction was +2.9%. Companies that significantly outperformed expectations were handsomely rewarded.
Valuation Outlook
Average: EV/EBIT 13.7x (based on 2026 or 2026/27 reporting years).
- Embellence and Cheffelo trades at a discount
- Axfood and Clas Ohlson trades at a premium.