KappAhl delivers "strong" Q1 peformance
- Q1 profit up 36.1% to SEK83m
- Sales fall 0.8% to SEK1.165bn
- Carina Ladow, vice president of assortment and design, to leave company in April
Both profit and margin grew in the first quarter
Swedish fashion chain KappAhl has revealed a "strong" first-quarter performance, with both profit and margin rising year-on-year.
Profit after tax reached SEK83m (US$9.71m) for the three months to end of November, compared to SEK61m in the same period of the prior year. Gross margin improved to 65.6% from 63.3%.
Net sales, however, edged down 0.8% to SEK1.165bn from SEK1.174bn the year before. Sales at comparable stores climbed 0.8% year-on-year.
The company operated 373 stores at the end of the period, down from 377 a year ago.
"The first quarter was a strong quarter for KappAhl," said newly appointed president and CEO Danny Feltmann. "We delivered a sound gross margin, still have good cost control and are continuing with our priority investments. What contributes to our sound margins is a combination of a successful new offer strategy and a price strategy that compensates for higher purchase prices."
Separately, the company announced that Carina Ladow, vice president of assortment and design, will leave the company on 30 April. Desiré Westerberg, design and purchasing manager for kids, will oversee the assortment and design departments at KappAhl while the company searches for Ladow's successor.
US apparel giant VF Corp has partnered with the International Finance Corporation (IFC) to help build the long-term competitiveness and sustainability of the textile wet processing sector in Banglades...
The future plans of KappAhl Sverige will be focused on offering apparel and footwear at affordable prices to women, men and children, with a specific emphasis on its core consumer group of female adul...
Jeans posted current value growth of 4% in 2015, driven by healthy demand for authentic, craft and premium jeans...
Menswear grew by 2% in current value terms in 2015...
Swedish women showed a growing interest in both premium and high-quality womenswear as well as economy-positioned apparel in 2015...
Apparel accessories posted a rather sluggish 1% increase in current value terms in 2015, hindered by maturity and price competition from economy players as well as internet retailers...
- Fashion fit for the future – strategies for speed
- How PVH is paving the way for connected apparel
- Digitisation to drive new apparel-making models
- Pakistan industry seeks help to kickstart exports
- Under Armour Lighthouse will disrupt production
- US Q3 in brief - Rocky Brands, Gymboree Corp
- Child refugees found in Turkey apparel factories
- Primark sourcing chief Gordon steps down
- Chinese manufacturer invests $20m in US facility
- Managing change in the move to new tech tools
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022
- Global Sports and Fitness Wear Market 2016-2020