Ridestore, the company behind the brands Dope Snow and Montec, has now released the figures for the broken fiscal year 2025/2026. According to a survey by Market, the e-commerce retailer's net sales decreased from 126.7 million euros last year to 124.7 million euros.
Profitability is also declining. Operating profit decreased from 28.7 million euros to 24.8 million euros during the period, resulting in an operating margin of 19.8 percent. This compares to a margin of 28.5 percent two years ago.
Investments Weigh on Results
The decline in results is largely explained by the company choosing to incur short-term costs to strengthen its position in the long term. During the year, Ridestore increased its investments in areas such as marketing, administration and organization.
Despite the slowdown, the company remains one of the most profitable players in the e-commerce industry. According to Market, the average margin among the largest e-commerce retailers is a modest 1.8 percent. Ridestore's 19.8 percent thus means that they clearly outperform the industry average.
In Ehandel's latest survey of Sweden's 100 largest e-commerce retailers, the company was found in 27th place, with a turnover of just under 1.4 billion Swedish krona.
Major Changes Behind the Scenes
Already at the end of last year, when the company released its previous annual report summarizing CEO Elin Glommens' first full year in office, a certain slowdown was visible after several years of strong growth. Since then, the company has also undergone major changes at the ownership and management levels.
In February, Ehandel reported that the founding brothers Emil and Linus Hellberg, who started the company in 2006, had chosen to leave their board positions after 20 years in the business.