Rapid progress in e-commerce
RNB is increasing the pace of its digital transformation by investing in technology and competences, and by developing its omni-channel offerings further. Sales in comparable Swedish stores increased in the quarter, outperforming the market significantly. E-commerce sales continued to grow. Earnings in the first quarter were down year-on-year due to increased marketing costs. Operating income for the first quarter was SEK 40 M (46).
FIRST QUARTER, SEPTEMBER 1, 2017 – NOVEMBER 30, 2017 IN SUMMARY
- Sales for comparable stores in Sweden increased by 0.6 percent in the quarter, above the market downturn of -2.3 percent.
- Net sales were SEK 583 M (584).
- Operating income increased to SEK 40 M (46).
- Profit after tax was SEK 45 M (58), of which market valuation of currency hedges was SEK 9 M (15).
- Market value of currency hedges was SEK -0,4 M in the last 15 month period.
- Earnings per share were SEK 1.34 (1.71).
- Cash flow from operating activities was SEK 62 M (38).
EVENTS IN THE FIRST QUARTER
- Frontmen.com was acquired in the quarter to further consolidate the company’s digital offering. Frontmen is an established retailer in men’s online fashion in Sweden.
- Polarn O. Pyret entered into a cooperation with Boozt. The collaboration implies that Bootz.com will become an exclusive partner of Polarn O. Pyret, in addition to the proprietary business, and a channel for reaching new markets.
- Brothers opened a new store in Hallarna just outside Halmstad.
- Lina Söderqvist has been appointed new CEO of Departments & Stores as of April 16, 2018. Nanna Hedlund is acting CEO of Departments & Stores from December 1, 2017 until April 15, 2018.
This information is information that RNB RETAIL AND BRANDS AB 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 contact person set out below, on 21 December 2017 at 07.30 a.m. CET.
For further information, please contact:
Magnus Håkansson, CEO, RNB RETAIL AND BRANDS AB
46 8 410 520 02, 46 768 87 20 02, e-mail: [email protected]
Kristian Lustin, CFO, RNB RETAIL AND BRANDS AB
46 8 410 524 63, 46 768 87 24 63, e-mail: [email protected]
RNB RETAIL AND BRANDS owns, operates and develops fashion wear, ready-to-wear clothing, accessories, jewelry and cosmetics stores and e-commerce that focus on providing excellent service and a world-class shopping experience. Sales are conducted through the concepts Brothers, Man of a kind and Polarn O. Pyret. Within the Departments & Stores business area, departments are managed in the department store NK in Stockholm and in Gothenburg. The Group has some 270 stores and e-commerce platforms in 10 countries. RNB RETAIL AND BRANDS has been listed on Nasdaq Stockholm since 2001 under the ticker RNBS.
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