SWEDEN: Lindex Sees Q2 Earnings Hike
Swedish clothing retailer Lindex AB has posted a growth in second-quarter net profit to SEK36 million from a second quarter net loss of SEK48m the year before.
Same-store sales for the period fell 4 per cent, compared with an increase of 6.7 per cent during the same period last year.
Total revenue fell to SEK1.29 billion from SEK1.37bn the year before.
The company attributed the better earnings to decreased operating costs, with staff-related expenses falling 7.4 per cent and other external expenses slipping 13.1 per cent compared with the year before.
Lindex shut six stores during the second quarter.
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