Read the P&L
How to read a brand's P&L under Trading: the period control, profit tiles, profit over time, where the money went and every statement line.
3 min readUpdated 7 October 2026
The P&L is the brand's profit and loss statement, built from Shopify, your ad platforms and the costs you set. It sits under Trading, beside Overview (the trade against last period, last year and plan) and Targets.
Before you start
- You need a role that can view the P&L, and a plan that includes it. Agency staff and brands covered by their agency's plan are never locked.
- Shopify must be connected. Set cost per item on your products in Shopify, and your other costs in Settings, Costs.
Step by step
- Open the brand and choose Trading, then P&L.
- In the period control, choose Month, Quarter, Half or Year, and Fiscal or Calendar.
- Choose the period from the list, or step with the arrows. Stepping after the last quarter moves into the next year.
- To change costs, choose Cost settings, which opens Settings, Costs.
- To see one country's statement, pick it in the Market control.
What you will see
Tiles
Net sales + shipping, Gross profit, CM3 and EBITDA, each with its share of net sales, its change on the period just before and a line of recent months.
Profit over time
Net sales and shipping, CM3 and EBITDA over recent months, with your period shaded. Switch it to a table to see each month's figures.
Where the money went
A waterfall from net sales and shipping down to EBITDA for the period.
The statement
One column per month, a total and a Change column against the period just before.
| Section | Lines |
|---|---|
| Revenue | Gross Sales, Discounts, Returns, Net Product Sales, Shipping Revenue, Net Sales + Shipping |
| Cash Collected (memo) | Tax Collected, Duties Collected, Gross Collected: money collected, kept out of profit |
| Cost of Goods Sold | COGS, net of returns, then Gross Profit and CM1 % |
| Direct Variable Costs (CM2) | Shipping & Fulfilment, Payment Fees, Custom Variable Costs, then CM2 and CM2 % |
| Acquisition / Marketing (CM3) | Meta, Google, Pinterest, TikTok, Custom Acquisition Costs, Total Marketing & Acquisition, then CM3 and CM3 % |
| Fixed Overhead | Fixed Costs (Rent, Salaries, Software), Other Manual Costs, then EBITDA and EBITDA Margin % |
Hover a line's information mark for what it includes. Payment Fees opens to show each gateway.
Troubleshooting
- "Costs not set": choose Add your costs. If you cannot change settings, ask whoever runs the brand's settings to add them.
- "No Shopify sales in this period": connect Shopify, or choose a period with sales.
- "The P&L could not be loaded": try again in a moment.