Interim report 1 September 2008 - 30 November 2008

First quarter, September 1, 2008 – November 30, 2008

- Net sales amounted to SEK 783.5 M (923.7), down 15.2%. Sales for comparable stores declined 9.2%.

- Operating profit amounted to SEK 40.2 M (81.5). Profit after net financial items totaled SEK 22.7 M (70.3).

- Profit after tax was SEK 16.6 M (54.8), corresponding to SEK 0.15 (0.95) per share.

- Cash flow from operating activities was a negative SEK 169.7 M (0.5).

- Action program under way to reduce costs and tied-up capital.

- A forceful action program to turn around JC is under way.

- Polarn O. Pyret and Brothers & Sisters continue to perform well.

If you have any questions about this report, please contact:

Mikael Solberg, President, Tel: +46 (0)8-410 520 20, +46 (0)768-87 20 20

Göran Blomberg, CFO, Tel: +46 (0)8-410 520 99, +46 (0)768-87 20 99

Cecilia Lannebo, Investor Relations, Tel: +46 (0)8-410 520 45,

+46 (0)768-87 20 45

RNB RETAIL AND BRANDS AB is organized on the basis of two business areas – Polarn O. Pyret and a distribution platform for national and international brands. Polarn O. Pyret is a brand focused on baby and children’s wear. The distribution platform consists of two main areas, Department Stores and Store Concepts. Department store operations are conducted via stores in the NK, Steen & Ström, Illum and Kosta oulet department stores. The store concepts comprise JC, Brothers and Sisters.

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