Focus on divestment
Following focused efforts to identify new owners of the subsidiaries, Departments & Stores (including Man of a kind) was divested in February and Polarn O. Pyret in March. The focus is now on finding a good solution for the remaining parts of the Group with RNB and Brothers.
SECOND QUARTER, DECEMBER 1, 2020 - FEBRUARY 28, 2021 IN SUMMARY
- Net sales decreased to SEK 47 M (118).
- Comparable sales on all national markets for all business areas decreased by -26.2 percent (-11.6).
- Sales for comparable units in Sweden for all business areas decreased by -29.4 percent (-9.4), compared to the market downturn of -22.9 percent (0.1).
- Operating income from remaining operations was SEK -40 M (-28).
- Profit after tax from remaining operations was SEK -50 M (-38).
- Profit after tax was SEK -173 M (-63).
- Earnings per share was SEK -1.70 (-0.66).
- Cash flow from operating activities was SEK -35 M (-32).
THE PERIOD, SEPTEMBER 1, 2020 - FEBRUARY 28, 2021 IN SUMMARY
- Net sales decreased to SEK 102 M (235).
- Comparable sales on all national markets for all business areas decreased by -21.8 percent (-10.3).
- Sales for comparable units in Sweden for all business areas decreased by -25.1 percent (-8.9), compared to the market downturn of -28.4 percent (-1.2).
- Operating income from remaining operations was SEK -20 M (-59).
- Profit after tax from remaining operations was SEK -40 M (-77).
- Profit after tax was SEK 16 M (-67).
- Earnings per share was SEK 0.16 (-1.03).
- Cash flow from operating activities was SEK 35 M (68).
EVENTS IN THE QUARTER
- Operations in the Departments & Stores business area were divested in February.
EVENTS AFTER THE END OF THE QUARTER
- The business area Polarn O. Pyret was divested for a preliminary purchase consideration of SEK 353 M.
- The company remains affected by the restrictions resulting from Covid-19 and Swedish fashion retailing has not yet returned to the sales levels seen before the breakout of the pandemic.
For further information, please contact:
Kristian Lustin, CEO, Phone +46 8 410 520 00, e-mail: firstname.lastname@example.org
This information is such that RNB RETAIL AND BRANDS AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the above contact persons on April 15, 2021 at 7:00 a.m. (CEST).
RNB RETAIL AND BRANDS owns, operates and develops stores and e-commerce in fashion, clothing and accessories. The focus is on providing a service and shopping experience beyond the ordinary. Sales are conducted through the Brothers concept. Brothers is a nationwide men's fashion chain with 44 stores including an e-commerce. Brothers is the obvious destination for updated, relaxed and well-dressed fashion in affordable quality with a superb fit for all men in all situations. RNB RETAIL AND BRANDS is listed on Nasdaq Stockholm (RNBS). www.rnb.se
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