Increased sales for Brothers
The number of visitors and sales in Brothers’ stores continued to increase in the quarter.
Brothers’ sales increased sharply on the third quarter and sales outperformed the forecast for several months, leading to low stock levels. The Group continued its focus on finding
solutions for the remaining operations.
FOURTH QUARTER, JUNE 1, 2021 – AUGUST 31, 2021 IN SUMMARY
- Net sales increased to SEK 85 M (70).
- Brothers’ sales for comparable units in Sweden increased by 17.5 percent (-24.3), compared to the market increase of 21.9 percent (-18.4).
- Operating income from remaining operations was SEK -7 M (-8).
- Profit after tax from remaining operations was SEK -11 M (-21).
- Earnings in the period totaled SEK -6 M (-50).
- Earnings per share was SEK -0.07 (-0.49).
- Cash flow from operating activities was SEK 13 M (9).
THE PERIOD, SEPTEMBER 1, 2020 – AUGUST 31, 2021 IN SUMMARY
- Net sales decreased to SEK 248 M (363).
- Comparable sales on all national markets for all business areas decreased by -14.3 percent (-20.2).
- Sales for comparable units in Sweden for the business areas decreased by -17.0 percent (-20.4), compared to the market downturn of -4.3 percent (-12.1).
- Operating income from remaining operations was SEK -21 M (-168).
- Profit after tax from remaining operations was SEK -56 M (-220).
- Earnings in the period totaled SEK 111 M (-435).
- Earnings per share was SEK 1.08 (-5.21).
- Cash flow from operating activities was SEK 93 M (243).
- The business area Departments & Stores was divested in the second quarter.
- The business area Polarn O. Pyret was divested in the third quarter.
EVENTS IN THE FOURTH QUARTER
- An Extraordinary General Meeting in August decided to change the financial year to the calendar year. This means that the current financial year has been extended to 31 December 2021. The next report, Year-End Report, will comprise the period September 2021 – December 2021.
- The remaining SEK 120 M of the preliminary purchase consideration from the divestment of Polarn O. Pyret was received on June 28.
- The bond loan was amortized by a further SEK 120 M on 15 July.