Interim Report 1 September 2016 – 30 November 2016
Earnings increase by more than 50 percent
Operating income during the first quarter amounted to SEK 46 million, an improvement of SEK 16 M in total, compared to the first quarter of the previous year. The performance was strong with a strengthened positive momentum. Sales developed better than the market, despite the fact that the weather was challenging early in the quarter. The reorientation work relating to Polarn O. Pyret is now delivering positive results and Brothers is continuing to increase its sales and earnings. The challenges in Departments & Stores are expected to dampen from the second quarter.
First quarter September 1, 2016 – November 30, 2016 in summary
- Sales in comparable stores in Sweden decreased during the quarter by 1.4 percent, which was a better development compared to the market´s decrease of 2.1 percent (Swedish Retail and Wholesale Trade Research Institute (HUI).
- Net sales totaled SEK 584 M (556), an increase of 5.0 percent.
- Operating income increased to SEK 46 M (30).
- Operating income before amortization for the latest 12-month period totaled SEK 105 M (103).
- Profit after tax amounted to SEK 58 M (30), which corresponds to SEK 1.71 (0.90) per share.
- Cash flow from operating activities was SEK 38 M (16)
- Polarn O. Pyret’s operations in the Netherlands were closed down during the quarter.
This information is information that RNB RETAIL AND BRANDS AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, on 21 December 2016, at 07:30 a.m CET.
For further information, please contact:
Magnus Håkansson, CEO, RNB RETAIL AND BRANDS AB, 46 8 410 520 02, 46 768 87 20 02,
Kristian Lustin, CFO, RNB RETAIL AND BRANDS AB, 46 8 410 524 63, 46 768 87 24 63
RNB RETAIL AND BRANDS owns, operates and develops fashion, clothing, accessories, jewelry and cosmetics stores that focus on providing excellent service and a world-class shopping experience. Sales are mainly conducted in Scandinavia through the store concepts Brothers and Polarn O. Pyret, as well as through shops in the department stores NK in Stockholm and Gothenburg. RNB RETAIL AND BRANDS has operations in 10 countries. RNB RETAIL AND BRANDS has been listed on the Nasdaq Stockholm Exchange since 2001.