KID ASA - FIRST QUARTER 2016 RESULTS
Lier, 12 May 2016: The board of directors of Kid ASA has approved the financial report for the first quarter of 2016.
(Figures from corresponding period the previous year in brackets)
- Revenues decreased by 0.6%. The decrease was primarily driven by two less shopping days due to timing of Easter
- Like-for-like sales decreased by 4.5%
- Online sales increased by 32.2%
- No store openings or closings
- Gross margin of 58.5% (57.9%)
- Adjusted EBITDA of 0.5 MNOK (9.0 MNOK)
Due to 2 less shopping days during Easter in the first quarter compared to 2015, Kid ASA has decided to announce the revenues per April 2016 in this quarterly report. In the first four months of 2016, there was one additional shopping day, and revenues had a growth of 3.9% while like-for-like sales decreased by 0.2%. Online sales increased by 41.2%.
Kjersti Hobøl, CEO Kid, +47 918 35 965
Petter Schouw-Hansen, CFO Kid, +47 482 24 534