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Interim report September 1, 2011 – May 31, 2012

Third quarter, March 1, 2012 – May 31, 2012

·         Net sales totaled SEK 613 M (675), down 9.2 percent. Sales in comparable proprietary stores declined 1.8 percent during the quarter.

·         The operating profit, excluding last year's write-down of goodwill and trademark of SEK 431 M, improved by SEK 68 M and amounted to SEK -34 M (102).
                       
·         JC's operations in Norway which has been closed, have had a negative impact on operating profit with SEK -8 M (-44).
                       
·         The operating profit, excluding JC's operations in Norway and excluding last year's write-down of goodwill and trademark (431 M), improved by SEK 31 M and amounted to SEK -26 M (-57).

·         The profit before tax amounted to SEK -42 M (-105 excluding write-down of goodwill and trademark). Excluding JC's operations in Norway the profit amounted to SEK -34 M (-61). Unrealized results on currency futures affected the quarter with SEK 5 M (3).  
  
·         Profit after tax amounted to SEK -32 M (-452), corresponding to a profit per share of SEK – 0.19 (-2.73).

·         Cash flow from operating activities amounted to SEK -13 M (-47).

The interim-report period, September 1, 2011 – May 31, 2012

·         Net sales totaled SEK 2 121 M (2 235), down 5.1 percent. Sales in comparable proprietary stores declined 1.7 percent.

·         The operating profit, excluding last year's write-down of goodwill and trademark of SEK 431 M, declined SEK 30 M and amounted to SEK -74 M (-44).
                       
·         JC's operations in Norway which has been closed, have had a negative impact on profit with SEK -63 M (-57).
                       
·         The operating profit, excluding JC's operations in Norway and excluding last year's write-down of goodwill and trademark (SEK 431 M), amounted to SEK -11 M (13).
                       
·         The profit before tax amounted to SEK -101 M (-71 excluding write-down of goodwill and trademark). Excluding JC's operations in Norway the profit amounted to SEK -39 M (-14). Unrealized results on currency futures affected the quarter with SEK 6 M (-5).

·         Profit after tax amounted to SEK -79 M (-428), corresponding to a profit per share of SEK – 0.48 (-2.58).
                       
·         Cash flow from operating activities amounted to SEK 8 M (-67).
                       

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 – May 31, 2012


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Source: RNB Retail and Brands AB via Thomson Reuters ONE
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