Increased retail sales and higher average order values were not enough to restore Nobia’s UK operations to growth in the past quarter.
Sales fell by 7%, with like-for-like sales down by 4% at the Magnet and Gower parent in the period to the end of September
Sales were £83.8m (SEK1,046million).
Gross margin improved from 38% to 40.8%, helped by cost cutting and store closures. Magnet had 168 stores in the period, down four on 2024 and follows an annual reduction of 17 in the previous quarter.
Adjusted operating profits were SEK2million, after a SEK263million impairment charge, with margins recovering from -4.1% to 0.2% (compared with a Nordic margin of 7.8%).
‘As the transformation to an asset-light model continues, Nobia is conducting further strategic reviews of the UK business,’ it says.
The group’s net sales for January–September 2025 decreased to SEK7,477million (SEK8,026milion ). The Nordic region declined by -1% and the UK by -9%.
