KappAhl Q3 2016/2017: Another good quarter

“The quarter started cautiously but picked up towards the end. An aggressive market contributed to a higher percentage of discounted sales, which had a negative impact on the margin. Despite this, determined work on our new range strategy and pricing and campaign strategy has led to yet another good quarter...”  

Read the full CEO statement in the enclosed report.

      • Sales increased during the quarter by 1.8 per cent and in September-May by 5.5 per cent. 
      • The gross margin was 63.7 (64.9) and was negatively impacted by a higher percentage of clearance sales, changes in the range mix and a continued weak krona compared with the previous year. 
      • Operating profit for the quarter was SEK 119 (103) million and SEK 310 (251) million for September-May.  
      • The equity ratio is 65.7 (57.3) per cent. 
      • Growth over the rolling twelve months is 6.3 per cent. 

      After the end of the quarter

      • KappAhl have decided to open Newbie Store and associated online shopping in the United Kingdom. The first stores are expected to open during the fall.
      Third Quarter (Mar-May) Nine month  (Sep-May)
        2016/2017 2015/2016 Change 2016/2017 2015/2016 Change
         
      Net sales, SEK million 1 217 1 195 22 3 668 3 476 192
      Operating profit/loss, SEK million 119 103 16 310 251 59
      Gross margin, % 63,7 64,9 -1,2 62,7 63,1 -0,4
      Operating margin, % 9,8 8,6 1,2 8,5 7,2 1,3
      Profit after tax, SEK million 81 89 -8 222 186 36
      Earnings per share, SEK 1,05 1,16 -0,11 2,89 2,42 0,47
      Cash flow from operating activities, SEK million 322 202 120 511 307 204

      This information is information that KappAhl AB is obliged to disclose pursuant to the EU Market Abuse  Regulation and the Securities Market Act. The information was released for public disclosure through the agency of President and CEO Danny Feltmann on 29 June 2017 at 07.30 CET. 

      For further information
      Danny Feltmann, President & CEO. Tel 46 31 771 5661.
      Anders Düring, Chief Financial Officer. Tel 46 708 887 733.

      For photos and company information
      Charlotte Högberg, Head Corporate Communications, Tel 46 704 71 56 31, charlotte.hogberg@kappahl.com

      KappAhl, founded in 1953 in Gothenburg, is one of the leading Nordic fashion chains with nearly 380 stores in Sweden, Norway, Finland and Poland as well as Shop Online. Our mission is to offer value-for-money fashion of our own design with wide appeal. More than half of the range is sustainability labelled. In 2015/2016 sales were SEK 4.7 billion and the number of employees was about 4,000 in nine countries. KappAhl has been listed on Nasdaq Stockholm since 2006. More information is available at 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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      The quarter started cautiously but picked up towards the end. An aggressive market contributed to a higher percentage of discounted sales, which had a negative impact on the margin. Despite this, determined work on our new range strategy and pricing and campaign strategy has led to yet another good quarter.
      Danny Feltmann, president & Ceo