Highlights

  • Nick Scali is scheduled to release its FY2026 full-year results on 7 August 2026.
  • The ANZ business continued delivering revenue, profit and margin growth during the first half of FY2026.
  • The UK business remains in transition as store refurbishments and rebranding continue.
  • Investors will focus on UK profitability, ANZ sales momentum and FY2027 outlook.

Nick Scali enters its FY2026 reporting season with investors assessing whether continued strength across its Australian and New Zealand operations can offset the ongoing investment phase in the United Kingdom. The upcoming results are expected to provide greater clarity on the progress of the company's UK turnaround strategy and its outlook for FY2027.

Why this story matters

Nick Scali (ASX: NCK) is one of Australia's leading furniture retailers and an important consumer discretionary stock on the ASX. While its Australian and New Zealand operations continue delivering solid earnings growth, the company's UK expansion remains under close scrutiny following ongoing investment and store refurbishment activity. The FY2026 results are expected to provide investors with an important update on both businesses.

About Nick Scali and its ASX operations

Founded in Sydney in 1962 and listed on the ASX in 2004, Nick Scali is a vertically integrated furniture retailer specialising in lounges, dining furniture and home furnishings.

The group operates the Nick Scali and Plush brands across Australia and New Zealand and expanded into the United Kingdom through the acquisition of Fabb Furniture during 2024. At December 2025, the company operated 129 stores, comprising 110 stores across Australia and New Zealand and 19 stores in the United Kingdom.

Management has outlined a long-term objective of expanding the network to 240–270 stores, including 180–200 stores in ANZ and 60–70 stores in the UK.

The latest development

Nick Scali has confirmed it will release its FY2026 full-year financial results on 7 August 2026, followed by a webcast hosted by Executive Chair and Chief Executive Officer Anthony Scali and Chief Financial Officer Keith Toms.

The upcoming results will provide investors with the first full-year assessment of the company's UK transformation programme, which includes refurbishing and rebranding former Fabb Furniture stores under the Nick Scali brand.

While refurbishment activity has temporarily affected UK revenue, management has previously indicated encouraging early performance from completed store conversions.

Financial and operational figures

For FY2025, Nick Scali reported:

  • Revenue of A$495.3 million, up 5.8%.
  • Statutory net profit of A$57.7 million.
  • Underlying net profit of A$62.0 million.
  • Gross margin of 63.5%.
  • Full-year dividend of 63 cents per share, including a final dividend of 33 cents.

During the first half of FY2026, performance improved across the ANZ business.

The company reported:

  • Group revenue of A$269.3 million, up 7.2%.
  • Written sales orders of A$251.6 million, up 10.7%.
  • ANZ revenue of A$251.7 million, up 13.1%.
  • ANZ like-for-like sales growth of 12.7%.
  • ANZ gross margin of 65.9%, up 1.5 percentage points.
  • ANZ net profit of A$46.6 million, up approximately 37%.
  • Group statutory NPAT of A$41.0 million, up approximately 36%.
  • Fully franked interim dividend of 39 cents per share, up 30%.

Within the UK business:

  • Revenue totalled A$17.6 million.
  • Net loss was A$5.6 million.
  • Written sales orders increased 12.8%.
  • Gross margin improved to 59.2%, from 45.1% previously.

At 31 December 2025, the company reported net assets of A$278.0 million and cash of A$91.7 million.

Market context

Nick Scali continues operating within a retail environment influenced by housing activity, consumer confidence and discretionary spending.

Despite softer consumer conditions across parts of the retail sector, the company's Australian and New Zealand operations have continued demonstrating resilient sales growth and margin expansion. Meanwhile, the UK business remains in an investment phase as management focuses on building a larger long-term presence.

Potential opportunities

The company's ANZ operations continue providing a strong earnings base through consistent sales growth, healthy margins and disciplined inventory management.

If the UK transformation programme continues progressing as planned, improved store performance and a larger retail network could support future earnings growth. The company's solid balance sheet and cash position also provide flexibility to continue expanding while maintaining shareholder returns.

Material risks and uncertainties

Execution risk within the UK business remains the company's largest near-term challenge.

Store refurbishment costs, ongoing operating losses and the pace of sales recovery will continue influencing profitability. In Australia and New Zealand, demand remains sensitive to housing market activity, consumer confidence and discretionary spending trends.

The business also remains exposed to freight costs, exchange rate movements and competitive pricing across the furniture retail sector.

What investors should watch next

The FY2026 results on 7 August 2026 are expected to provide important updates on:

  • UK financial performance and progress toward profitability.
  • ANZ sales and order momentum.
  • Gross margin trends.
  • Final dividend and capital management.
  • Store rollout plans across ANZ and the UK.
  • Management's outlook for FY2027.

Investors will also be looking for commentary regarding consumer demand, freight costs and future expansion plans.

Conclusion

Nick Scali approaches its FY2026 results with a profitable and growing ANZ business supported by healthy cash generation and expanding margins. At the same time, the UK business remains an important long-term growth initiative that continues to require investment.

The upcoming results should provide greater clarity on whether improving operational performance in the UK is progressing as expected while confirming whether the company's core ANZ operations continue delivering sustainable earnings growth.