SWEDEN: KappAhl returns to FY profit after “good year”
- FY net profit SEK91m, up from SEK224m loss
- Q4 profit SEK7m, versus SEK40m loss
- FY gross margin up 25 basis points
Fashion chain KappAhl posted a strong recovery, returning to profitability and sales increases in both fourth quarter and full-year results.
Net sales in the three months ending 31 August were up 1.7% to SEK1.148bn, leaving full-year sales up 3.6% to SEK4.751bn.
Gross margin was flat at 57% in the fourth quarter, but rose 25 basis points to 59.2% in the year as a whole.
“In brief, it has been a good year for KappAhl,” said president and CEO Johan Åberg.
“We have achieved this year’s targets and report increased sales, stronger gross margins and improved earnings.
“We have taken measures and are closing the year with a strong balance sheet.”
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