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
SECOND QUARTER,
- 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,
- 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 ofSEK 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:
This information is such that
https://news.cision.com/rnb-retail-and-brands/r/interim-report-1-september-2020--28-february-2021,c3325772
https://mb.cision.com/Main/5860/3325772/1401620.pdf
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