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Year-end report 1 September 2017 – 31 August 2018

Reorientation work takes effect

The sales in Sweden outperformed the market as a whole in the fourth quarter. E-commerce continued to growth significantly during the quarter and the growth for the full year was 51% and amounted to SEK 160 million in sales. The underlying trend also continued for the business areas in the quarter, while the reorientation work is progressing at a high pace. Operating income was SEK -3 M (4) in the fourth quarter.

FOURTH QUARTER, JUNE 1, 2018 – AUGUST 31, 2018 IN SUMMARY

  • Net sales increased to SEK 561 M (554).
  • Group sales for comparable stores on all national markets decreased by -0.4 percent.
  •  Sales for comparable stores in Sweden decreased by -2.7 percent, outperforming the market which was down by -3.9 percent. 
  •  Operating income was SEK -3 M (4).
  •  Profit after tax was SEK -13 M (-13).
  •  Earnings per share was SEK -0.38 (-0.38).
  •  Cash flow from operating activities was SEK -39 M (-23).

THE PERIOD, SEPTEMBER 1, 2017 – AUGUSTI 31, 2018 IN SUMMARY 

  •  Net sales were SEK 2,238 M (2,216).
  •  Group sales for comparable stores on all national markets increased by +0.3 percent.
  •  Sales for comparable stores in Sweden decreased by -0.7 percent, outperforming the market which was down by -2.6 percent.
  •  Operating income was SEK 47 M (63).
  •  Profit after tax increased to SEK 36 M (30).
  •  Comprehensive income for the period was SEK 60 M (25).
  •  Earnings per share increased by 20 percent to SEK 1.07 (0.90).
  •  Cash flow from operating activities was SEK 11 M (51).
  •  The Board proposes that no dividends will be paid.

EVENTS AFTER THE END OF THE PERIOD 

  •  In September, RNB announced changes to Group management. The CEO of Brothers, Peter Bondelid, is leaving his position. The current CEO of Departments & Stores, Lina Söderqvist, will be appointed new CEO of Brothers. Yvonne Magnusson has been appointed Interim CEO of Departments & Stores.
  • Polarn O. Pyret is one of three finalists in the category Design Concept of the Year at the Habit Fashion Show which is held in November.