· Net sales totaled SEK 754 M (772), down 2.4 percent. Sales in comparable proprietary stores were unchanged during the quarter.
· The operating profit, excluding JC's operations in Norway, declined by SEK 28 M to SEK -9 M (19).
· JC's operations in Norway which is being closed, have had a negative impact on operating profit with SEK -16 M (-8).
· The profit before tax amounted to SEK -42 M (-7). Excluding JC's operations in Norway the profit amounted to SEK -26 M (0). Unrealized results on currency futures affected the quarter with SEK -5 M (-10).
· Profit after tax amounted to SEK -20 M (-10), corresponding to a profit per share of SEK – 0.12 (-0.06).
· Cash flow from operating activities amounted to SEK 37 M (15).
Half-Year report, September 1, 2011 – February 29, 2012
· Net sales totaled SEK 1 508 M (1 560), down 3.3 percent. Sales in comparable proprietary stores declined 1.6 percent.
· The operating profit, excluding JC's operations in Norway, declined by SEK 56 M to SEK 15 M (71).
· JC's operations in Norway which is being closed, have had a negative impact on profit with SEK -55 M (-13). In the upcoming third quarter, a maximum of SEK 4 M to come in ongoing operating losses to complete the closure.
· The profit before tax amounted to SEK -60 M (33). Excluding JC's operations in Norway the profit amounted to SEK -5 M (46). Unrealized results on currency futures affected the quarter up with SEK 1 M (-8).
· Profit after tax amounted to SEK -47 M (24), corresponding to a profit per share of SEK – 0.28 (0.15).
· Cash flow from operating activities amounted to SEK 21 M (-19).
For further information, contact:
Magnus Håkansson, CEO, RNB RETAIL AND BRANDS, +46 8 410 520 02, +46 768 87 20 02, magnus.hakansson@rnb.se
Gunnar Bergquist, CFO, RNB RETAIL AND BRANDS, +46 8 410 520 01, +46 768 87 20 01, e-mail: gunnar.bergquist@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. RNB RETAIL AND BRANDS has operation in 10 countries. RNB RETAIL AND BRANDS has been listed on the OMX Nordic Exchange since 2001.
Interim report September 1, 2011 – February 29, 2012
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Source: RNB Retail and Brands AB via Thomson Reuters ONE
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