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.