Thule Group shares fall, hit by US weakness despite record 47% margins

Thule Group reported 2.5% organic sales growth for the second quarter of 2026. The Swedish outdoor brand achieved a record-high gross margin of 47.3%. Total sales reached SEK 3.42 billion. GAAP EPS stood at SEK 4.98.

European markets drove performance with 4% organic growth. Conversely, North American organic growth fell 2% as retailers reduced inventory levels.

Thule will raise prices by approximately 2.5% in the third quarter to offset rising raw material costs. Shares declined as investors reacted to the persistent weakness in the North American market.