Fashion and lifestyle giant Boozt released its interim report for the third quarter of 2026 today, and the mood at the top of the Nordic group is buoyant. Net sales climbed 17 percent to SEK 1,951 million, compared to SEK 1,673 million during the corresponding period last year. In local currency, growth landed at 16 percent, driven by the main site Boozt.com growing by 17 percent while the outlet site Booztlet.com increased by 9 percent.
Our Nordic department store strategy demonstrated its strength and significant potential during the third quarter of this year. We reported 16 percent growth in local currency, a further acceleration compared to a strong Q2. We are gaining market share in every market in the Nordics, and we are doing so while growing in all of our categories.
Boozt CEO Hermann Haraldsson writes in a comment to the report. The significant increase in sales also has a substantial leverage effect all the way down to the bottom line. Adjusted operating profit increased by a full 59 percent, landing at SEK 107 million, up from SEK 67 million last year.
Looking at the reported operating profit, an increase of 92 percent to SEK 80 million was seen, while the period's net profit more than doubled. Profit increased by 131 percent, landing at SEK 59 million, compared to SEK 26 million during the third quarter of the previous year.
Fewer promotions deliver a clear boost
A key factor behind the profit increase is reduced discount and promotional activity. During the quarter, Boozt's gross profit margin strengthened to 40 percent, up from just over 37 percent the year before. This is a direct result of the e-commerce retailer choosing to reposition its assortment towards a clearer premium segment, meaning it no longer needs to rely on margin-squeezing sale campaigns to the same extent as before.
There are no shortcuts behind these results. We are following exactly the plan we established at the beginning of the year, built on a wider range with a clearer premium profile, stronger commercial execution and a more inspiring and seamless shopping experience.
During the third quarter, the active customer base passed the milestone of 4 million customers across the group's two sites. Boozt.com now has over 3 million active customers after an increase of 13 percent, and nearly 200,000 more consumers than before are now choosing to shop across different product categories.
Equally important is that growth is coming with higher profitability. We have fewer promotions and are running the business with greater discipline. Boozt.com is increasingly a premium destination, where customers come for the brands, inspiration and experience rather than for the discounts, and that's what makes the growth healthy and sustainable.
Maximizes inventory after management shake-up
As recently as a week ago, we reported that Boozt cut a dozen management roles in a comprehensive reorganization to cut management levels and increase pace, a reshuffle that also meant that the co-founder and Chief Commercial Officer Peter G. Jørgensen left the company immediately.
On the more operational front, the group has also fine-tuned the logistics machinery in Ängelholm ahead of the most critical sales months of the year. A completely new center for returns handling has been put into use, while the handling of flammable beauty products is now fully automated directly within the ordinary robot flow.
We are entering Black Friday and the Christmas shopping season with the strongest inventory position in our history. We have purchased for growth, with more brands and a wider range than ever before, and we have great confidence in what we have on the shelves.
As early as the end of September, it became clear that Boozt chose to revise its full-year forecast upwards after early winter purchases caused sales to skyrocket at the beginning of autumn. With the third quarter in the books, management is now choosing to further refine its expectations. The announcement today is that both sales growth and operating margin for the full year 2026 are expected to land in the upper range of the recently upgraded forecast intervals, which means a growth approaching 12 percent and an adjusted operating margin at the top end around 7 percent.