Nick Scali Ltd (ASX:NCK): A 12-Month Look at Nearly 45% Fall

Sonal Goyal

22 October 2026 10:29 PM AEDT

Nick Scali Ltd (ASX:NCK): A 12-Month Look at Nearly 45% Fall

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Key highlights

Nick Scali Ltd (ASX:NCK) shares were priced at $12.03 as at 22 October 2026, down 15.34% on the day and down approximately 45.02% over the past year.
Nick Scali reported FY26 group NPAT up 22% and revenue up 4%, with gross margin improving by 210 basis points, in its 7 August 2026 release.
ANZ NPAT was $80.5 million and ANZ revenue was $476.7 million, up 5.1%.

As at 22 October 2026, Nick Scali Ltd (ASX:NCK) shares were priced at $12.03, down 15.34% on the day, and the share performance data shows the stock down approximately 45.02% over the past year. Nick Scali is a furniture retailer with showrooms in Australia, New Zealand and the United Kingdom. Nick Scali reported FY26 group NPAT up 22% and revenue up 4%, with gross margin improving by 210 basis points, in its 7 August 2026 release.

About Nick Scali Ltd: business overview

Nick Scali Limited sells furniture through Nick Scali and Plush showrooms across Australia and New Zealand, and through showrooms in the United Kingdom following its acquisition of Fabb Furniture. Customers place written orders that convert to revenue on delivery.

FY26 group results

In an announcement dated 7 August 2026, Nick Scali reported group net profit after tax up 22% and revenue up 4% in a subdued retail environment. Gross margin improved by 210 basis points through pricing, sourcing and inventory management.

ANZ and UK performance

ANZ Group NPAT was $80.5 million, up 10.0% on FY25 underlying profit, with revenue of $476.7 million, up 5.1%, and a gross margin of 66.0%, up 100 basis points. ANZ written sales orders rose 2.7% over the year, with a softer second half cycling double-digit growth in Q4 FY25.

In the UK, the net loss after tax was $4.8 million, including a $5.6 million loss in 1H and a $0.8 million profit in 2H. UK written orders were $45.0 million, up 31.4%, and like-for-like orders in 2H were up 19.0%. UK revenue was $40.0 million, $1.8 million below FY25 because of store closures for refurbishment, while UK gross margin improved to 60.3% from 47.1%.

Related sector context

Retailers are influenced by household spending, consumer confidence, interest rates, supplier pricing and tariffs, and the timing of key trading periods. Companies commonly publish trading updates between full results, and report sales, gross margin, store networks and online share alongside profit. Yearly share price changes in the segment can reflect shifts in expectations for spending and housing-related demand as well as company-specific results.

Risks to weigh in

ANZ written orders slowed in the second half, UK operations remain in a net loss for the year, and revenue timing depends on delivery of written orders. Housing activity, consumer demand, freight costs, currency and the UK refurbishment program can affect outcomes.

Catalysts on watch

Items to watch include ANZ written orders, UK profitability, gross margin trends and the half-year result.

Summing up

Nick Scali’s 7 August 2026 release recorded higher profit and margins, slower ANZ order growth and a UK return to second-half profit. The next result will show order trends.

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