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Interim Report 1 September 2020 - 31 May 2021

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A brighter spring for Brothers

The quarter returned a welcome increase in customer numbers and sales for Brothers. Sales increased sharply compared to the second quarter and Brothers increased it’s market share in men’s fashion. The progress continued in June. The divestment of Polarn O. Pyret was completed in the quarter and the Group continues to focus on finding a solution for the remaining operations.

THIRD QUARTER, MARCH 1, 2021 - MAY 31, 2021 IN SUMMARY

  •  Net sales increased to SEK 61 M (59).
  • Comparable sales on all national markets for all business areas increased by 20.1 percent (-32.1).
  • Sales for comparable units in Sweden for all business areas increased by 14.0 percent (-32.5), compared to the market increase of 19.8 percent (-28.5).
  • Operating income from remaining operations was SEK -19 M (-88).
  • Profit after tax from remaining operations was SEK -27 M (-106).
  • Profit after tax was SEK 102 M (-318).
  • Earnings per share was SEK 1.00 (-3.12).
  • Cash flow from operating activities was SEK 45 M (147).

THE PERIOD, SEPTEMBER 1, 2020 - MAY 31, 2021 IN SUMMARY

  •  Net sales decreased to SEK 163 M (293).
  • Comparable sales on all national markets for all business areas decreased by -17.0 percent (-16.5).
  • Sales for comparable units in Sweden for all business areas decreased by -20.5 percent (-15.8), compared to the market downturn of -12.7 percent (-9.9).
  • Operating income from remaining operations was SEK -15 M (-160).
  • Profit after tax from remaining operations was SEK -44 M (-198).
  • Profit after tax was SEK 118 M (-385).
  • Earnings per share was SEK 1.15 (-4.99).
  • Cash flow from operating activities was SEK 81 M (235).

EVENTS IN THE QUARTER

  •  In March, the business area Polarn O. Pyret was divested for a preliminary purchase consideration of SEK 353 M.
  • At the beginning of May, CEO and President Kristian Lustin resigned at his own request to take up a new position with a different company.
  • The Departments & Stores business area was divested in the second quarter.

EVENTS AFTER THE END OF THE QUARTER

  • The remaining SEK 120 M of the preliminary purchase consideration from the divestment of Polarn O. Pyret was received on June 28.
  • A Notice convening an Extraordinary General Meeting was published on June 30.

For further information, please contact:

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

This information is such that RNB RETAIL AND BRANDS AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above contact persons on July 1, 2021 at 7:00 a.m. (CEST).

RNB RETAIL AND BRANDS owns, operates and develops stores and e-commerce in fashion, clothing and accessories. The focus is on providing a service and shopping experience beyond the ordinary. Sales are conducted through the Brothers concept. Brothers is a nationwide men’s fashion chain with 44 stores including an e-commerce. Brothers is the obvious destination for updated, relaxed and well-dressed fashion in affordable quality with a superb fit for all men in all situations. RNB RETAIL AND BRANDS is listed on Nasdaq Stockholm (RNBS). www.rnb.se

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