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Interim Report 1 September 2019 - 29 February 2020

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           SECOND QUARTER, DECEMBER 1, 2019 - FEBRUARY 29, 2020 IN SUMMARY

  • Net sales decreased to SEK 561 M (604).
  • Comparable sales for the Group on all national markets decreased by -11.6 percent.
  • Sales for comparable units in Sweden decreased by -9.4 percent, compared to the market upturn of 0.1 percent.
  • Operating income was SEK -52 M (-28).
  • Operating income, excluding IFRS 16, the new accounting standard, amounted to SEK -55 M (-28).
  • Profit after tax amounted to SEK -63 M (-35).
  • Earnings per share was SEK -0.66 (-1.02).  
  • Cash flow from operating activities was SEK -32 M (27).

 

THE PERIOD, SEPTEMBER 1, 2019 - FEBRUARY 29, 2020 IN SUMMARY

  • Net sales decreased to SEK 1,134 M (1,203).
  • Comparable sales for the Group on all national markets decreased by -10.3 percent.
  • Sales for comparable units in Sweden decreased by -8.9 percent, compared to the market downturn of -1.2 percent.
  • Operating income was SEK -40 M (7).
  • Operating income, excluding IFRS 16, the new accounting standard, amounted to SEK -47 M (7).
  • Profit after tax amounted to SEK -67 M (-9).
  • Earnings per share was SEK -1.03 (-0.27).  
  • Cash flow from operating activities was SEK 68 M (74).

 

EVENTS IN THE QUARTER

  • In December a preferential rights issue was completed raising some SEK 84.8 M before issue expenses.

 

EVENTS AFTER THE END OF THE QUARTER

  • The Covid-19 pandemic had a negative impact on sales in March. Sales and profit for the rest of the quarter will be negatively affected by the pandemic, although the extent is hard to judge at present due to the changeable nature of the situation.
  • The subsidiaries Brothers AB, Departments & Stores Europe AB and Polarn O. Pyret AB filed for company reorganisation on 23 March.

For further information, please contact:

Kristian Lustin, CEO, Phone +46 8 410 520 00, e-mail: kristian.lustin@retailandbrands.se

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, at 8:15 CET on 23 March 2020.

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 around 240 stores and e-commerce platforms in 10 countries. RNB RETAIL AND BRANDS is listed on Nasdaq Stockholm (RNBS). www.rnb.se

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