Retail and wholesale
FollowDownload sector report (PDF)1 companies ranked against comparable companies in four Morning company classes. Fiscal year 2021. Source: Brønnøysund Register Centre. Methodology
Ranking · 2021 · Morning class Medium
No ranked companies in this class this year.
The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode
Biggest moves · Morning class Medium
Climbers and fallers need at least two fiscal years with a score. Coming when next year's figures are fetched.
Top lists in the sector · 2021 · Morning class Medium
The five largest companies account for 72% of the sector's revenue.
Highest revenue
No company meets the requirement this year.
Operating revenue.
Highest operating margin
No company meets the requirement this year.
Operating result divided by operating revenue.
Largest profit
No company meets the requirement this year.
Profit before tax.
Largest loss
No company meets the requirement this year.
Profit before tax, the largest negative.
Most solid
No company meets the requirement this year.
Equity ratio: equity divided by total assets.
Fastest growth
No company meets the requirement this year.
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
No company meets the requirement this year.
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
Requires an index for two financial years.
Change in index points from the year before.
Biggest fallers
Requires an index for two financial years.
Change in index points from the year before.
Most employees
No company meets the requirement this year.
Employees according to the Central Coordinating Register.
Highest revenue per employee
No company meets the requirement this year.
Only companies with at least 5 employees.
The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.
Positions in the sector · 2021 · Morning class Medium
Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.
Too few ranked companies to draw the map.
Summary · fiscal year 2021 · Morning class Medium
0 of 10 companies have negative equity.
All figures are for fiscal year 2021. Ranked: 0 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index
- Growth is not included in the index: it needs the previous year's accounts.
- Consistency is not included in the index: it needs accounts for several years.
Climbers and fallers · Morning class Medium
Climbers need at least two fiscal years. They appear once next year's accounts are fetched or history is imported.
Needs attention · 2021 · Morning class Medium
5 companies show at least one warning sign. Showing the 5 most important.
- watchSteelwick ASVery low equity ratio (0.1%) · Current ratio below 1 (0.63) · Loss before tax
- watchTeknikmagasinet Norway ASVery low equity ratio (3.6%) · Loss before tax
- watchElm Detalj ASLoss before tax
- watchWbce ASLoss before tax
- watchGerry Weber Norge ASVery low equity ratio (2.5%)
Sector map · 2021 · Morning class Medium
Too few ranked companies to draw the map.
Scenario analysis: the sector's weakest year
The sector's weakest year was 2022, with a median operating margin of 1.5%.
Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2016 | 14.9% | −59.5% |
| 2017 | 3.7% | −53.9% |
| 2018 | 13.3% | −34.0% |
| 2019 | – | – |
| 2020 | – | – |
| 2021 | 14.9% | 48.0% |
| 2022 · weakest year | 1.5% | 19.7% |
| 2023 | 2.9% | 34.3% |
| 2024 | 2.7% | 34.1% |
| 2025 | 3.0% | 33.7% |
| 2026 | 4.4% | 28.9% |
In 2022, 123 ranked companies did better than the sector, 49 about the same and 118 weaker.
Held up best in 2022
- 1Maritim Gruppen ASequity ratio 63.9%92.4%
- 2Tesa ASequity ratio 32.0%47.0%
- 3RETAIL & Branding ASequity ratio 13.6%41.5%
- 4Pascal Wear ASequity ratio 40.5%39.8%
- 5Samirc Norge ASequity ratio 51.2%36.5%
- 6Flexifiks ASequity ratio 53.9%34.9%
- 7Oslo Frimerke- og Myntauksjoner ASequity ratio 33.8%32.5%
- 8Seven Agency ASequity ratio 80.5%31.6%
- 9La Cosmetica ASequity ratio 74.7%31.2%
- 10Combisafe Norge ASequity ratio 85.4%29.9%
Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology
Drivers in the sector
Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| Sector's median operating margin | 14.9% | 1.5% | 2.9% | 2.7% | 3.0% | 4.4% |
Source: SSB (14710, CC BY 4.0). Source · fetched 1 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.14 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.16 percentage points |
| Sector's median operating margin | 14.9% | 1.5% | 2.9% | 2.7% | 3.0% | 4.4% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 1 November 2026
When policy rate fell in 2025, 11,351 of 22,103 ranked companies kept their operating margin at or above the year before. Among the largest: Elkjøp Nordic AS (−0.2% → 0.9%), Lerøy Seafood AS (2.4% → 2.8%), Harald A Møller AS (4.2% → 5.1%), Asko Sentrallager Kjøl AS (0.8% → 1.1%), Power International AS (−0.6% → 1.0%).
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
The sector in Norway (SSB)
The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.
Enterprises, employment and turnover · 2024
- Enterprises
- 48,396
- −2.2% from 2023
- Persons employed
- 384,188
- −0.6% from 2023
- Turnover
- NOK 2,381.9 bn
- +1.6% from 2023
- Gross operating margin
- 3.7%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
574 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −22.2% against the four quarters before (738). That is about 11.9 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 6.2%
- Share of persons employed
- 25.1%
- Share of turnover
- 32.0%
SSB publishes this for groups of industries only. The figures are for the group “Varehandel, reparasjon av motorvogner”.
Retail and wholesale index, volume · Varehandel, reparasjon av motorvogner
95.7 index, 2021 = 100, seasonally adjusted · 2026M09
+3.1% against 2025M09.
Monthly, 2023M09 to 2026M09.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 07129. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.
Latest bankruptcies and liquidations
- Aarvik Lager AS 922843759 Voluntary liquidation · 31 October 2026
- AGDER STEIN & Monument AS 921405855 Voluntary liquidation · 31 October 2026 · 4 MNOK (2025)
- Antikvariat Sør AS 923049967 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Arne Mjøsund AS 992562854 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
- ATELIÈR Agapi AS 928460851 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Base Trading AS 922018170 Voluntary liquidation · 31 October 2026
- Bedre Hverdag AS 921190409 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Bil Industri AS 916247362 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
Industry codes (NACE)
| Code | Description |
|---|---|
| 45* | Hele hovedgruppe 45 |
| 46* | Engroshandel (hele hovedgruppen) |
| 46.110 | Agenturhandel med jordbruksråvarer, levende dyr, tekstilråvarer og halvfabrikater |
| 46.120 | Agenturhandel med brensel, drivstoff, malm, metaller og industrikjemikalier |
| 46.130 | Agenturhandel med tømmer, trelast og byggevarer |
| 46.140 | Agenturhandel med maskiner, produksjonsutstyr, båter og luftfartøy |
| 46.150 | Agenturhandel med møbler, husholdningsvarer og jernvarer |
| 46.160 | Agenturhandel med tekstiler, klær, pelsskinn, skotøy og lærvarer |
| 46.170 | Agenturhandel med nærings- og nytelsesmidler |
| 46.180 | Agenturhandel med spesialisert vareutvalg ellers |
| 46.190 | Agenturhandel med bredt vareutvalg |
| 46.210 | Engroshandel med korn, råtobakk, såvarer og fôrvarer |
| 46.220 | Engroshandel med blomster og planter |
| 46.230 | Engroshandel med levende dyr |
| 46.240 | Engroshandel med huder, skinn og lær |
| 46.310 | Engroshandel med frukt og grønnsaker |
| 46.321 | Engroshandel med kjøtt og kjøttvarer |
| 46.322 | Engroshandel med fisk, skalldyr og bløtdyr |
| 46.330 | Engroshandel med meierivarer, egg, matolje og -fett |
| 46.340 | Engroshandel med drikkevarer |
| 46.350 | Engroshandel med tobakksvarer |
| 46.360 | Engroshandel med sukker, sjokolade og sukkervarer |
| 46.370 | Engroshandel med kaffe, te, kakao og krydder |
| 46.380 | Engroshandel med andre næringsmidler |
| 46.390 | Engroshandel med bredt utvalg av nærings- og nytelsesmidler |
| 46.410 | Engroshandel med tekstiler og utstyrsvarer |
| 46.420 | Engroshandel med klær og skotøy |
| 46.430 | Engroshandel med elektriske husholdningsapparater |
| 46.440 | Engroshandel med kjøkkenutstyr av porselen, glass og steintøy og rengjøringsmidler |
| 46.450 | Engroshandel med parfyme og kosmetikk |
| 46.460 | Engroshandel med apotekvarer og medisinske varer |
| 46.470 | Engroshandel med husholdnings-, kontor- og butikkmøbler, gulvtepper og belysningsutstyr |
| 46.480 | Engroshandel med klokker, ur og smykker |
| 46.490 | Engroshandel med andre husholdningsvarer |
| 46.500 | Engroshandel med informasjons- og kommunikasjonsteknologiutstyr |
| 46.610 | Engroshandel med maskiner og utstyr til jordbruk og skogbruk |
| 46.620 | Engroshandel med maskinverktøy |
| 46.630 | Engroshandel med maskiner og utstyr til bergverksdrift, olje- og gassutvinning og bygge- og anleggsvirksomhet |
| 46.640 | Engroshandel med maskiner og utstyr ellers |
| 46.710 | Engroshandel med motorvogner |
| 46.720 | Engroshandel med deler og utstyr for motorvogner |
| 46.730 | Engroshandel med motorsykler og tilhørende deler og utstyr |
| 46.810 | Engroshandel med drivstoff, brensel og beslektede produkter |
| 46.820 | Engroshandel med metaller og metallholdig malm |
| 46.830 | Engroshandel med tømmer, trelast, byggevarer og sanitærutstyr |
| 46.840 | Engroshandel med jernvarer, rørleggerartikler og oppvarmingsutstyr |
| 46.850 | Engroshandel med kjemiske produkter |
| 46.860 | Engroshandel med innsatsvarer ellers |
| 46.870 | Engroshandel med avfall og skrap |
| 46.890 | Engroshandel med spesialisert vareutvalg ikke nevnt annet sted |
| 46.900 | Uspesifisert engroshandel |
| 47* | Detaljhandel (hele hovedgruppen) |
| 47.110 | Detaljhandel med bredt vareutvalg med hovedvekt på nærings- og nytelsesmidler |
| 47.120 | Detaljhandel med bredt vareutvalg ellers |
| 47.210 | Detaljhandel med frukt og grønnsaker |
| 47.220 | Detaljhandel med kjøtt og kjøttvarer |
| 47.230 | Detaljhandel med fisk, skalldyr og bløtdyr |
| 47.240 | Detaljhandel med bakervarer, konditorvarer og sukkervarer |
| 47.250 | Detaljhandel med drikkevarer |
| 47.260 | Detaljhandel med tobakksvarer |
| 47.270 | Detaljhandel med nærings- og nytelsesmidler ellers |
| 47.300 | Detaljhandel med drivstoff til motorvogner |
| 47.400 | Detaljhandel med informasjons- og kommunikasjonsteknologiutstyr |
| 47.510 | Detaljhandel med tekstiler og utstyrsvarer |
| 47.520 | Detaljhandel med jernvarer, byggevarer, fargevarer og glass |
| 47.530 | Detaljhandel med tapet, gulvtepper og gulvbelegg |
| 47.540 | Detaljhandel med elektriske husholdningsapparater |
| 47.551 | Detaljhandel med møbler, gjelder også madrasser |
| 47.552 | Detaljhandel med belysningsartikler |
| 47.553 | Detaljhandel med husholdningsredskaper og bestikk, servise, glassvarer, porselen og keramikk |
| 47.559 | Detaljhandel med innredningsartikler ikke nevnt annet sted |
| 47.610 | Detaljhandel med bøker |
| 47.620 | Detaljhandel med aviser og papirvarer |
| 47.631 | Detaljhandel med sportsvarer |
| 47.632 | Detaljhandel med fritidsbåter og tilhørende utstyr |
| 47.640 | Detaljhandel med spill og leker |
| 47.690 | Detaljhandel med kulturvarer ikke nevnt annet sted |
| 47.710 | Detaljhandel med klær |
| 47.720 | Detaljhandel med skotøy og lærvarer |
| 47.730 | Detaljhandel med apotekvarer |
| 47.740 | Detaljhandel med medisinske og ortopediske artikler |
| 47.750 | Detaljhandel med kosmetikk og toalettartikler |
| 47.761 | Detaljhandel med blomster, planter, gjødsel og plantevernmidler |
| 47.762 | Detaljhandel med kjæledyr og varer til kjæledyr |
| 47.770 | Detaljhandel med ur, klokker og smykker |
| 47.780 | Annen detaljhandel med andre nye varer |
| 47.790 | Detaljhandel med brukte varer |
| 47.810 | Detaljhandel med motorvogner |
| 47.820 | Detaljhandel med deler og utstyr til motorvogner |
| 47.830 | Detaljhandel med motorsykler og tilhørende deler og utstyr |
| 47.910 | Formidlingstjenester tilknyttet detaljhandel med bredt vareutvalg |
| 47.920 | Formidlingstjenester tilknyttet detaljhandel med spesialisert vareutvalg |