Interim report 1 September 2018 - 28 February 2019
Continued increased e-com in a mixed quarter
RNB’s sales continued to outperform the clothing and fashion sector on all national markets also in the second quarter. Growth in e-commerce remained strong across all concepts, up more than 40% in the quarter. Discount-driven sales pressured gross margins and profit. The restructuring of the Group is well under way, but is generating costs. Operating income before restructuring costs totaled SEK -12 M (4) in the quarter.
SECOND QUARTER, DECEMBER 1, 2018 – FEBRUARY 28, 2019 IN SUMMARY
- Net sales increased to SEK 604 M (589).
- Comparable sales for the Group on all national markets increased by 2.2 percent.
- Sales for comparable units in Sweden increased by 1.5 percent, outperforming the market downturn of -1.6 percent.
- Operating income before restructuring costs was SEK -12 M (4).
- Operating income was SEK -28 (4) M.
- Profit after tax was SEK -35 M (1).
- Earnings per share was SEK -1.02 (0.02).
- Cash flow from operating activities was SEK 27 M (-16).
THE PERIOD, SEPTEMBER 1, 2018 – FEBRUARY 28, 2019 IN SUMMARY
- Net sales increased to SEK 1,203 M (1,171).
- Comparable sales for the Group on all national markets increased by 2.3 percent.
- Sales for comparable units in Sweden increased by 2.0 percent, outperforming the market downturn of -2.7 percent.
- Operating income before restructuring costs was SEK 24 M (44).
- Operating income was SEK 7 (44) M.
- Profit after tax was SEK -9 M (46).
- Earnings per share was SEK -0.27 (1.36).
- Cash flow from operating activities was SEK 74 M (47).
EVENTS IN THE QUARTER
- Polarn O. Pyret received two awards; the Signum Award for best brand management and Sweden’s Greenest Brand 2018 (clothing).
- The Annual General Meeting authorized the Board of Directors to restructure the group.
For further information, please contact:
Magnus Håkansson, CEO, RNB RETAIL AND BRANDS AB
46 8 410 520 02, e-mail: email@example.com
Kristian Lustin, CFO, RNB RETAIL AND BRANDS AB
46 8 410 524 63, e-mail: firstname.lastname@example.org
This information is information that RNB RETAIL AND BRANDS AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on March 26, 2019 at 07:00 am CET.
RNB RETAIL AND BRANDS owns, operates and develops fashion wear, ready-to-wear clothing, accessories, jewelry and cosmetics stores and e-commerce that focus on providing excellent service and a world-class shopping experience. Sales are conducted through the concepts Brothers, Departments & Stores, Man of a kind and Polarn O. Pyret. The Group has more than 250 stores and e-commerce platforms in 10 countries. RNB RETAIL AND BRANDS is listed on Nasdaq Stockholm (RNBS). www.rnb.se