RNB RETAIL AND BRAND´S profit improvement trend is continuing – for the first quarter 2014/15, RNB reports positive operating income of SEK 23 M, an improvement of SEK 14 M in total compared to the previous year. The first quarter 2014/15 was the company´s third consecutive quarter with better sales than the market, where all concepts also displayed a better performance than the market.
FIRST QUARTER SEPTEMBER 1, 2014 – NOVEMBER 30, 2014 IN SUMMARY
- Sales in comparable stores increased during the quarter by +4.5%, compared to the market´s decrease of -2.2% (Swedish Retail and Wholesale Trade Research Institute´s (HUI)).
- Net sales totaled SEK 509 M (595, including the divested operation (JC)).
- Operating income amounted to SEK 23 M (9, including the divested operation (JC)).
- Operating income for the past 12-month period totaled SEK 14 M (3).
- Profit before tax amounted to SEK 22 M (7, including the divested operation (JC)).
- Profit after tax amounted to SEK 22 M (6, including the divested operation (JC)), which corresponds to SEK 0.65 (0.19) per share.
- Cash from operating activities was SEK 6 M (-14).
- During the quarter, three new stores were opened, all in Polarn O. Pyret´s Norwegian operations. Meanwhile, a total of five stores were closed, three in Polarn O. Pyret Sweden, and two in Brothers Sweden.
- After the end of the quarter, RNB entered into an agreement on extension of the business financing from the company´s main owner, Konsumentföreningen Stockholm (SEK 200 M). The agreement provides a possibility to extend the financing by one year from 2016 to 2017.
- On November 1, 2013, RNB entered into an agreement to divest the subsidiary JC to Denim Island AB. During the first quarter of 2013/2014, JC´s sales amounted to SEK 111 M and its operating income totaled SEK -6 M.