Enhanced action programme following a weak quarter
The first quarter continued to be characterised by high campaign intensity and low demand, which has had an adverse impact on results. The first two months of the quarter developed below expectation, while November did show positive development. Further measures are being taken in addition to those already begun, the aim being to increase sales and reduce costs. The process of closing stores that do not boost profitability will now be intensified. A structural action programme has also been planned for early 2019.
First quarter (September 2018 – November 2018)
· Net sales