New Wave Group (NWG) AB, parent company of Counselor Top 40 supplier Cutter & Buck (asi/47965), grew 6.6% in Q1 2026, according to a recently released earnings report.
Sales for the quarter for the Swedish-based brand increased to SEK 2,328 million in Q1, compared to SEK 2,184 million in Q1 last year.
“During my years as CEO of New Wave Group, I have experienced both economic cycles and crises, and I cannot recall a period with such a prolonged phase of cautious demand,” said Torsten Jansson, CEO of NWG. “This affects both our customers and their willingness to invest, and places high demands on us – in terms of patience and a consistent focus on what we can influence ourselves. Against this backdrop, it is therefore a clear sign of strength that we continue to increase our sales despite generally sluggish market conditions.”
Sport and leisure sales, the business segment that Cutter & Buck falls under, increased 0.9% year over year, with NWG reporting solid growth for the supplier. However, the company says some of this growth was offset by the weakening of the U.S. dollar.
Meanwhile, the corporate sales segment experienced 13% growth, while gifts and home furnishing sales declined by nearly 4%.
Across segments, promo sales outperformed retail sales, with the promo channel growing 10.8% to SEK 1,551 million. Retail sales saw a slight decline of 0.9%.
NWG does business in 28 countries, with primary sales coming from North America and Europe. The company owns several global brands, including Ahead (asi/33220), Auclair, Cotton Classics Handels GmbH, Craft, Cutter & Buck, Seger, and Tenson AB.
Based on North American promotional product revenue of $81 million, Cutter & Buck ranks 23rd on Counselor’s most recent list of top suppliers in the industry.
