SWEDEN: KappAhl Q1 profit halves on warm autumn
- Q1 profit of SEK62m, down 46%
- Sales fell 0.2% to SEK1.24bn
- Gross margin flat at 63.3%
Swedish fashion chain KappAhl has today (14 January) reported a 46% decline in first-quarter net profit, after a warm autumn weighed on sales of cold-weather clothing.
Net profit stood at SEK62m (US$9.6m) for the three months to November, down 46% from SEK115m in the same period of the prior year.
Sales fell 2% to SEK1.24bn, compared to SEK1.25bn in the previous year, weighed down by the impact of new and closed stores, change in comparable stores and currency effects. Gross margin, meanwhile, remained flat at 63.3%.
President and CEO Johan Åberg said: The warm autumn brought sales challenges for KappAhl and the rest of the industry.
"Now we have the results of the first quarter, September-November, we can see that KappAhl, despite this, is delivering figures on a level with the previous year."
The winding up of the company's operations in the Czech Republic, which was first announced last October, has gone according to plan, Åberg added.
More than 200 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people in ...
KappAhl will continue to consolidate its position in Sweden going forward with a deliberate focus on serving its core consumer group: women aged 30+ with families....
KappAhl will seek to consolidate its market position through the development of collections best suited to the demands and wants of its core consumer group, namely women 30+ with families. The company...
Kappahl AS’s primary goal is to offer low priced clothing for men and women from age 30 to 50. However, it also offers clothing for younger consumers and children. In order to meet Norwegian tastes, c...
Introduction Womenswear in Norway industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profi......
Introduction Womenswear in Sweden industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profi......
Introduction Menswear in Norway industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profile......
- Myanmar - right time, right place, new challenges
- 3D printing gears up for fashion industry change
- Apparel working conditions linked to profit
- Cutting pollution saves China textile mills money
- Adidas worker hotline bridges communication gap
- China cotton imports to rise as Xinjiang cuts crop
- Crystal first China licensee of RevoLaze tech
- Thailand project to vertically integrate clothing
- Dick's Sporting Goods updates on strategy
- Cambodia growth to slow on competition and cost