Barbara Bui returns to net profit in first half 2026, despite 2% decline in revenue
Barbara Bui closed its accounts for the first half of 2026 on 30 September 2026. The Parisian fashion group posted a revenue decline of 2% year-on-year, but returned to a net profit attributable to the Group of 0.1 M€.
The publication highlights two opposing dynamics within the portfolio: a retail activity in growth, driven by e-commerce, facing a wholesale division in sharp decline in a context described as degraded by economic and geopolitical factors.
Retail advances 3%, wholesale retreats 16%
First-half 2026 revenue declined 2% compared to the same period in 2025, with contrasting trends depending on business segments.
Retail activity grew 3% over the period, driven by e-commerce whose revenue increased 15% compared to the first half of 2025. The network of Parisian boutiques posted a 1% decline.
Conversely, Wholesale activity fell 16% (excluding clearance activities), with the group attributing this to buyer caution against a backdrop of degraded global economic and geopolitical environment.
Gross margin at 75.5% and return to net profit of 0.1 M€
The gross margin rate reached 75.5% as of 30 June 2026, improving by 2.9 percentage points year-on-year, with gross margin standing at 4.9 M€. The group attributes this evolution to the continued pursuit of its production cost control efforts.
Operating income came in stable at −0.2 M€, with the increase in expenses limited to 2%. Operating profit broke even, notably as a result of debt write-offs related to the implementation of Barbara Bui SA's continuation plan adopted in January 2026.
The positive contribution from financial results enables the group to post net profit attributable to the Group of 0.1 M€, whereas fiscal year 2025 had resulted in negative operating income and net loss, according to data published on 29 April 2026.
Target of positive operating income for fiscal year 2026
As of 30 June 2026, the group had cash of 0.6 M€ and stable financial debt of 2.2 M€, primarily consisting of liabilities recorded on Barbara Bui SA's balance sheet as part of the continuation plan. Of the 5.3 M€ of liabilities retained in this plan adopted in January 2026, 4.5 M€ remained to be settled as of 30 June 2026, of which 3.4 M€ due in more than five years.
Barbara Bui indicates it intends to maintain strict cost control by leveraging its own channels, notably e-commerce. The group aims to return to positive operating income for fiscal year 2026, subject to changes in the economic and geopolitical environment.
The group also reactivated its US subsidiary Kabuki USA, with the objective of gradually strengthening its presence in the American market.
