KappAhl half year report 18/19: Sound sales growth and performance on a level with last year
“Sales for the quarter were marked by a more balanced offer in which both the Christmas trade and subsequent clearance sales had a good structure. Full-price sales at the start of the season were also satisfactory, largely thanks to well-filled stores and a broader offer…” Read the full CEO statement in the enclosed report.
- Sales in the quarter increased by 6.3 per cent. In the first half year sales increased by 4.3 per cent.
- The gross margin for the quarter was 57.5 (58.8) per cent. For the first half year it was 60.4 (61.8) per cent.
- Operating profit for the quarter decreased to SEK 2 (5) million. In the first half year it was SEK 55 (95) million.
- A programme aiming at improving earnings by more than SEK 100 million was initiated.
- Elisabeth Peregi, the new President and Chief Executive Officer of KappAhl will take up her position on 7 April 2019.
| Second Quarter (Dec-Feb) | Halfyear (Sep-Feb) | |||||||
| 2018/2019 | 2017/2018 | Change | 2018/2019 | 2017/2018 | Change | |||
| Net sales, SEK million | 1 185 | 1 115 | 70 | 2 379 | 2 280 | 99 | ||
| Gross margin, % | 57,5 | 58,8 | -1,3 | 60,4 | 61,8 | -1,4 | ||
| Operating profit/loss, SEK million | 2 | 5 | -3 | 55 | 95 | -40 | ||
| Operating margin, % | 0,2 | 0,4 | -0,2 | 2,3 | 4,2 | -1,9 | ||
| Profit after tax, SEK million | -1 | 5 | -6 | 40 | 81 | -41 | ||
| Earnings per share, SEK | -0,02 | 0,07 | -0,09 | 0,51 | 1,05 | -0,54 | ||
| Cash flow from operating activities, SEK million | -73 | -87 | 14 | -19 | 51 | -70 | ||
This information is information that KappAhl AB is obliged to disclose pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was released for public disclosure through the agency of Acting President/CEO and Chief Financial Officer, Peter Andersson, on 20 March 2019 at 07.30 CET.
For more information:
Peter Andersson, Chief Financial Officer and acting President/CEO. Tel. +46 703 31 55 70.
Charlotte Högberg, Head Corporate Communications. Tel. +46 704 71 56 31. Email charlotte.hogberg@kappahl.com.
KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with 380 KappAhl and Newbie stores, including Shop Online, in Sweden, Norway, Finland, Poland and Great Britain. Our business idea is to offer value-for-money fashion of our own design to the many people. Sustainability-labeled fashion accounts for 57 per cent of the range. Sales for 2017/2018 totaled SEK 4.8 billion and the company has approx. 4,000 employees in ten countries. KappAhl is quoted on Nasdaq Stockholm. More information at www.kappahl.com
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