KappAhl half-yearly report 2014/2015: Continued stable trend

Second quarter (Dec–Feb) Half year   (Sept-Feb)
2014/2015 2013/2014 Change 2014/2015 2013/2014 Change
Net sales, SEK million 1 133 1 114 19 2 307 2 357 -50
Operating profit, SEK million 9 3 6 104 102 2
Gross margin % 57.8 57,7 0,1 60.6 60,7 -0,1
Operating margin, % 0.8 0,3 0,5 4.5 4,3 0,2
Profit after tax, SEK million -3 -7 4 58 55 3
Earnings per share after dilution, SEK (Note   1) -0.04 -0,09 0.05 0.77 0.73 0,04
Cash flow from operating activities, SEK million 95 -51 146 163 74 89
  • Good Christmas sales and a well-implemented discount strategy meant that net sales increased by 1.7% in the quarter.
  • The operative cash flow continues its positive trend
  • Going for the fast roll-out of the new store concept doubled the rate of investment.
  • At the close of 2014, according to GfK Fashion Scope, KappAhl had a market share in Sweden of 7.0 (6.9)%, second among the large chains
  • The operating margin over the rolling 12 months was 6.3 (5.0) %.

“Sales in the second quarter increased by 1.7% compared with the previous year and the gross margin was stable, 57.8 (57.7)%. With good Christmas sales and a well-implemented discount strategy inventories are at satisfactory levels and the operative cash flow is continuing its positive trend...”

Johan Åberg, President and CEO.
Read the full CEO statement in the enclosed report or on KappAhl.com.

A presentation and telephone conference will be held for analysts, media and investors, today at 9.30 at Operaterrassen in Stockholm. To notify attendance at Operaterrassen go to www.kappahl.com/presentations, where the webcast will also be broadcast direct and saved for viewing later. To participate by telephone please call + 44 203 428 1410 about 5 minutes before the start.

The information in this interim report is disclosed by KappAhl AB (publ) pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 16 April 2015 at 07.30.

For further information
Johan Åberg, President and CEO, phone +46 706 09 99 73, johan.aberg@kappahl.com
Anders Düring, Chief Financial Officer, phone +46 708 88 77 33, anders.during@kappahl.com

Company information and photos
Charlotte Högberg, Head Public Relations, phone +46 704 71 56 31, charlotte.hogberg@kappahl.com

KappAhl was founded in 1953 and is a leading fashion chain in the Nordic region with nearly 400 stores in Sweden, Norway, Finland and Poland together with Shop Online. KappAhl offers good-value fashion of its own design to a wide range of consumers – women, men and children – with a particular focus on women in the mid-life age range. 24% of the range is sustainability labelled. In 2013/2014, the turnover was SEK 4.7 billion and the number of employees approx. 4,000. KappAhl is quoted on NASDAQ Stockholm. For more information, please visit www.kappahl.com.

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About Us

KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with 380 KappAhl and Newbie stores in Sweden, Norway, Finland, Poland and Great Britain as well as Shop Online. Our business idea is to offer value-for-money fashion of our own design to the many people. Sustainability-labeled fashion accounts for 57 per cent of the range. Sales for 2017/2018 totaled SEK 4.8 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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“Sales in the second quarter increased by 1.7% compared with the previous year and the gross margin was stable, 57.8 (57.7)%. With good Christmas sales and a well-implemented discount strategy inventories are at satisfactory levels and the operative cash flow is continuing its positive trend...”
Johan Åberg, KappAhl's President and CEO.