KappAhl Q3 2017/2018: Weak women's wear offer undermined the quarter
"The third quarter was challenging for KappAhl with a very weak close in the Nordic markets. Turnover in women’s wear decreased, while children’s wear increased and continued to report strong business. E-commerce accounted for 6.2 (5.6) per cent of total sales during the quarter." Read the full CEO statement in the enclosed file
- Sales decreased in the third quarter by 3.3 per cent. In the period September-May sales grew by 1.6 per cent.
- The gross margin for the third quarter was 60.8 (64.5) per cent. In the period September-May it was 60.5 (62.7) per cent.
- Operating profit for the third quarter decreased to SEK 6 (121) million. In the period September-May it was SEK 60 (216) million.
- The operating profit was affected by non-recurring costs of SEK 43 million for the programme started to improve earnings. The operating profit adjusted for one-off costs for the quarter was 49 (121) and accumulated SEK 103 (216) million.
- Elisabeth Peregi, new President and Chief Executive Officer at KappAhl, took up her post on 7 April 2019.
| Third Quarter (March-May) | Nine months (Sep-Feb) | ||||||
| 2018/2019 | 2017/2018 | Change | 2018/2019 | 2017/2018 | Change | ||
| Net sales, SEK million | 1 200 | 1 242 | -42 | 3 580 | 3 522 | 58 | |
| Gross margin, % | 60,8 | 64,5 | -3,7 | 60,5 | 62,7 | -2,2 | |
| Operating profit/loss, SEK million | 6 | 121 | -115 | 60 | 216 | -156 | |
| Operating margin, % | 0,5 | 9,7 | -9,2 | 1,7 | 6,1 | -4,5 | |
| Profit after tax, SEK million | 6 | 94 | -88 | 45 | 175 | -130 | |
| Earnings per share, SEK | 0,08 | 1,22 | -1,14 | 0,58 | 2,28 | -1,71 | |
| Cash flow from operating activities, SEK million | 183 | 292 | -109 | 163 | 343 | -180 | |
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 Chief Executive Officer Elisabeth Peregi on 26 June 2019 at 07.30 CET.
For more information:
Elisabeth Peregi, President and CEO. Tel +46 704 71 56 31.
Peter Andersson, Chief Financial Officer. Tel. +46 703 31 55 70.
Charlotte Högberg, Head Corporate Communications. Tel. +46 704 71 56 31. Email charlotte.hogberg@kappahl.com.
KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with 380 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 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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