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Nick Scali's Early Fiscal 2027 Trade Better than Feared, Jefferies Says

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Nick Scali's (ASX:NCK) early fiscal 2027 trade was better than feared, albeit with tailwinds in new stores, Jefferies said in a note on Thursday.

Its AU$75.7 million net profit after tax was 0.6% below consensus. Australia and New Zealand earnings before interest and taxes was around AU$3 million was weaker than consensus despite a very strong second half gross margin.

While Jefferies said it had confidence in the management's ability to deliver but it had questions on the sustainability of gross margin and outlook, given the weaker macro backdrop.

The investment firm assigned Nick Scali a hold rating and a price target of AU$15 per share.

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