KappAhl half-yearly report: Challenging quarter with bright spots
“…Bright spots in a severely negative market were our lower inventory levels and that growth in eCommerce has continued in line with the strong trend of 30-40-per cent we saw in the past year...”
Read the full CEO statement in the report.
- Sales in the quarter decreased by 6.2 per cent to SEK 1,115 (1,189) million and the gross margin decreased by 0.1 percentage points to 58.8 (58.9) per cent. During the first half year sales decreased by 6.9 per cent to SEK 2,280 (2,450) million and the gross margin was 61.8 (62.2) per cent.
- Inventory levels continue to be lower; SEK 713 (806) million after the second quarter.
- Growth in eCommerce has continued to grow by 30-40-per cent in line with previous trend.
- The accumulated operating margin was 4.2 (7.8) per cent.
| Second Quarter (Dec-Feb) | Half year (Sep-Feb) | |||||
| 2017/2018 | 2016/2017 | Change | 2017/2018 | 2016/2017 | Change | |
| Net sales, SEK million | 1 115 | 1 189 | -74 | 2 280 | 2 450 | -170 |
| Operating profit/loss, SEK million | 5 | 47 | -42 | 95 | 190 | -95 |
| Gross margin, % | 58,8 | 58,9 | -0,1 | 61,8 | 62,2 | -0,4 |
| Operating margin, % | 0,4 | 4,0 | -3,6 | 4,2 | 7,8 | -3,6 |
| Profit after tax, SEK million | 5 | 34 | -29 | 81 | 141 | -60 |
| Earnings per share, SEK | 0,07 | 0,44 | -0,37 | 1,05 | 1,84 | -0,79 |
| Cash flow from operating activities, SEK million | -87 | 27 | -114 | 51 | 189 | -138 |
For more information
Danny Feltmann, President and CEO. Tel +46 31 771 5661.
Tommy Svensson, Acting Chief Financial Officer. Tel. +46 31 771 56 57.
Charlotte Högberg, Head Corporate Communications, +46 704 715 631, charlotte.hogberg@kappahl.com
KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with 370 KappAhl and Newbie stores, including Shop Online, in Sweden, Norway, Finland, Poland and Great Britain. Our business idea is to offer value-for-money fashion of our own design to the many people. Sustainability-labeled fashion accounts for 53 per cent of the range. Sales for 2016/2017 totaled SEK 4.9 billion and the company has approx. 4,000 employees in ten countries. KappAhl is quoted on Nasdaq Stockholm. More information at www.kappahl.com
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