· Net sales totaled SEK 668 M (754), down by 11.4 percent. In the first quarter of the previous year, sales from the now closed down operations in Norway and Denmark were included by a total of SEK 37 M. Sales in comparable proprietary stores declined by 4.8 percent during the quarter.
· The operating profit improved by SEK 14 M and amounted to SEK -1 M (-15). In the previous year's quarter 1 result, losses from the operations in Norway (JC) and Denmark (Dept Stores) were included with SEK 39 M and SEK 4 M respectively.
· The profit before tax amounted to SEK -11 M (-18). Unrealized results on currency futures affected the quarter with SEK 3 M (6).
· Profit after tax amounted to SEK -11 M (-28), corresponding to a profit per share of SEK -0.06 (-0.17).
· Cash flow from operating activities amounted to SEK -57 M (-16).
Events after the end of the period
In December, the Group entered into an agreement with Konsumentföreningen Stockholm regarding refinancing of SEK 100 M out of the existing overdraft facility of SEK 200 M. The current provider of the overdraft had announced the intention to reduce the existing facility by half the amount as of January 1, 2013.
In order to secure the Groups funding needs, the existing overdraft facility has been complemented with a credit facility from Konsumentföreningen Stockholm of SEK 100 M, and in addition a commitment to provide SEK 50 M of funding. Both facilities from Konsumentföreningen Stockholm are available from January 1. 2013 to December 31, 2013, and can be utilized if and when needed throughout the year.
For further information, please contact:
Magnus Håkansson, CEO, RNB RETAIL AND BRANDS,
+46 8 410 520 02, +46 768 87 20 02, e-mail: firstname.lastname@example.org
Stefan Danieli, CFO, RNB RETAIL AND BRANDS,
+46 8 410 522 25, +46 768 87 22 25, e-mail: email@example.com
The information is such that RNB RETAIL AND BRANDS AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act. The information was submitted for publishing at 08:15 a.m. on January 16, 2013.
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.
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Source: RNB Retail and Brands AB via Thomson Reuters ONE