As part of a broad turnaround plan RNB RETAIL AND BRANDS AB will reorganize in order to improve efficiency and reduce costs. The plan includes a reduction of 30 members of staff with a profit impact of 15MSEK annually with full effect the current year 2011/2012. The reorganization encompasses product and assortment development, design and purchasing. It's being launched in connection with the opening of a sourcing office in Hong Kong. The reorganization also involves a number of headquarter functions in Stockholm. The total personnel reduction corresponds to 11 per cent of the total work force at head office. The reorganization details have been negotiated and communicated with the individuals involved and the restructuring charges will be 10MSEK. "RNB has entered into an extensive change process. We have a strategy and a broad turnaround plan that we are acting upon at a fast pace with the purpose to improve efficiency, develop the business and strengthen the group", says Magnus Håkansson, President and CEO of RNB. For further information, please contact: Magnus Håkansson, President and Chief Executive Officer of RNB, +46 (8) 410 520 02, +46 768 87 20 02 e-mail: magnus.hakansson@rnb.se RNB RETAIL AND BRANDS owns, operates and develops fashion, clothing, accessories, jewelry and cosmetics stores that focus on providing excellent service and a world-class shopping experience. Sales are mainly conducted in Scandinavia through the three store concepts Brothers & Sisters, JC and Polarn O. Pyret, as well as through shops in the department stores NK in Stockholm and Gothenburg and Illum in Copenhagen. RNB RETAIL AND BRANDS has operation in 11 countries. RNB RETAIL AND BRANDS has been listed on the OMX Nordic Exchange since 2001. Improved efficiency at head office of RNB: http://hugin.info/132993/R/1548471/475867pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: RNB Retail and Brands AB via Thomson Reuters ONE [HUG#1548471]