All three concepts are performing well in general. Brothers stands out with a sales increase of 7 percent in total and a positive result in the third quarter of SEK 12 M. Departments & Stores continues to display a stable performance and delivered a small increase in the quarterly result compared to the third quarter of the previous year, despite weak visitor figures. Polarn O. Pyret increased its sales during the ongoing restructuring of its operations.
THIRD QUARTER, MARCH 1, 2016 – MAY 31, 2016 IN SUMMARY
- Sales in comparable stores in Sweden increased during the quarter by 1.0 percent, compared to the market’s increase of 1.7 percent, (Swedish Retail and Wholesale Trade Research Institute (HUI)
- Net sales totaled SEK 489 M (485), an increase of 0.7 percent.
- Operating income amounted to SEK 0 M (4).
- Operating income before amortization for the latest 12-month period totaled SEK 89 M.
- Operating income for the latest 12-month period totaled SEK 42 M (40).
- The loss before tax amounted to SEK -10 M (-8).
- The loss after tax amounted to SEK -10 M (-8), corresponding to SEK -0.28 (-0.25) per share.
- Cash flow from operating activities was SEK 10 M (40).
- Polarn O. Pyret acquired 51 percent of Kids Company Oy. Kids Company Oy, which is the master franchise business in Finland, is expected to generate sales of just over SEK 100 M on an annual basis and consists of 12 stores, an e-commerce store and three franchise stores in Finland.
THE PERIOD, SEPTEMBER 1, 2015 – MAY 31, 2016 IN SUMMARY
- Sales in comparable stores increased by 3.7 percent during the period.
- Net sales totaled SEK 1,618 M (1,573), equivalent to an increase of 2.9 percent.
- Operating income totaled SEK 30 M (36).
- Profit before tax amounted to SEK 15 M (36).
- Profit after tax amounted to SEK 15 M (36), which corresponds to SEK 0.49 (1.07) per share.
- Cash flow from operating activities was SEK 46 M (88).
EVENTS AFTER THE END OF THE PERIOD
- In June, RNB entered into an agreement on possible extension of the existing business financing facility (SEK 400 M) from the company’s principal owner, Konsumentföreningen Stockholm. The agreement implies a possibility to extend the financing from 2017 to 2018 with unchanged contractual terms.