KappAhl optimistic despite Q4 declines
- Q4 earnings fall to SEK30m (US$3.6m)
- Gross margin narrows to 57.4%
- Sales down 2.5% to SEK1.15bn
Swedish fashion chain KappAhl said it remains focused on initiatives for the future, as it revealed a fall in sales and earnings in its fourth-quarter.
Net profit dropped to SEK30m (US$3.6m) in the three month period to the end of August, a 6.2% fall on earnings of SEK32m a year earlier.
Gross margin narrowed to 57.4% from 59.3% in the prior year, while net sales were down 2.5% to SEK1.15bn. Sales in comparable stores remained unchanged in the quarter, and for the full year slid 2.2%.
Earnings in the 12 month period dropped 13.9% to SEK111m, while net sales fell 3.2% to SEK4.59bn. Gross margin narrowed slightly to 60.1% from 60.8%.
Anders Düring, acting president and CEO, said: “The past year has been an intermediate year for KappAhl in terms of sales and profit growth. Nonetheless, it was an important year with a great focus on initiatives for the future.”
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