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Interim report 1 September 2020 - 30 November 2020

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Focus on the future

Polarn O. Pyret’s sales were positive and operating income increased. RNB’s focus on e-commerce paid off - e-commerce sales as a proportion of total rolling 12-month sales were up in the quarter, totaling 19 percent. Polarn O. Pyret is at the top of the league with 40 percent e-commerce sales. The corporate restructuring in Sweden was completed in the quarter, generating restructuring gains of SEK 251 M. Operating income totaled SEK 213 M (12) in the quarter.

FIRST QUARTER, SEPTEMBER 1, 2020 - NOVEMBER 30, 2020 IN SUMMARY

  • Net sales decreased to SEK 400 M (573).
  • Comparable Group sales on all national markets decreased by -17.9, percent (-9.0).
  • Sales for comparable units in Sweden decreased by -21.3 percent (-8.5), compared to the market downturn of -17.5 percent (-2.5).
  • Operating income was SEK 213 M (12).
  • Operating income, excluding reporting standard IFRS 16 and Goodwill impairment, was SEK 239 M (8).
  • Profit after tax was SEK 189 M (-4).
  • Earnings per share was SEK 1.86 (-0.12).
  • Cash flow from operating activities was SEK 63 M (99).

EVENTS IN THE QUARTER

  • The arrangements with creditors gained legal force on November 6. The agreed arrangements involve an initial payment of SEK 10,000 and 25 percent of the remainder to the companies’ creditors.
  • Goodwill for Departments & Stores was written down by SEK 27 M. After this impairment, no goodwill remains in Departments & Stores.

EVENTS AFTER THE END OF THE QUARTER

  • Sales in the second quarter, and probably also in the third, will remain affected by Covid-19. Hopefully, anticipated vaccinations will contribute to reducing the spread of infection, and eventually lead to restrictions being lifted, although it is hard to predict when this will materialize.

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. The information was submitted for publication, through the agency of the contact person set out above, at 7:00 CET on 22 December 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 and Polarn O. Pyret. The Group has around 190 stores and e-commerce platforms in 11 countries. RNB RETAIL AND BRANDS is listed on Nasdaq Stockholm (RNBS). www.rnb.se

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