Interim report September 1, 2011 - November 30, 2011
(Thomson Reuters ONE) -
First quarter, September 1, 2011 - November 30, 2011
· Net sales totaled SEK 754 M (787), down 4.3 percent. Sales in
comparable proprietary stores declined 3.7 percent
· The operating profit, excluding JC's operations in Norway, declined by
SEK 28 M to SEK 24 M (52)
· JC's operations in Norway which is being closed, have had a negative
impact on profit with SEK 39 M (-5). The result has been affected by a provision
of SEK 33 M for restructuring costs. In addition, the next two quarters will be
burdened with ongoing operating losses of approximately SEK 20 M to complete the
closure.
· The profit before tax amounted to SEK -18 M (41). Excluding JC's
operations in Norway the profit amounted to SEK 21 M (46). Unrealized results on
currency futures affected the quarter up with SEK 6 M (2).
· Profit after tax amounted to SEK -28 M (34), corresponding to a profit
per share of SEK - 0.17 (0.20).
· Cash flow from operating activities amounted to SEK -16 M (-35).
Events after the end of the period
· RNB has previously announced to reduce / restructure the Norwegian
operations for JC down to five stores. The business will now instead be settled
in full within the coming two quarters.
* The Group has secured new business financing from the principal owner
Konsumentföreningen Stockholm. The new operating funding is made up of a new
loan of up to 150 million with a maturity of 24 months from March 2012. The
loan is mortgage-free during the first year of maturity, and shall
thereafter be repaid in full during the following year (March 2013-March
2014). The terms of the loan is at market conditions
For further information, contact:
Magnus Håkansson, CEO, RNB RETAIL AND BRANDS,
+46 8 410 520 02, +46 768 87 20 02, magnus.hakansson(at)rnb.se
Gunnar Bergquist, CFO, RNB RETAIL AND BRANDS,
+46 8 410 520 01, +46 768 87 20 01, e-mail: gunnar.bergquist(at)rnb.se
RNB RETAIL AND BRANDS owns, operates and develops fashion, clothing,
accessories, jewelry and cosmetics stores that focus on providing excellent
service and a world-class shopping experience. Sales are mainly conducted in
Scandinavia through the three store concepts Brothers & Sisters, JC and Polarn
O. Pyret, as well as through shops in the department stores NK in Stockholm and
Gothenburg. RNB RETAIL AND BRANDS has operation in 10 countries. RNB RETAIL AND
BRANDS has been listed on the OMX Nordic Exchange since 2001.
Interim report September 1, 2011 ? November 30, 2011:
http://hugin.info/132993/R/1578339/492311.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: RNB Retail and Brands AB via Thomson Reuters ONE
[HUG#1578339]
Unternehmensinformation / Kurzprofil:
Datum: 18.01.2012 - 07:02 Uhr
Sprache: Deutsch
News-ID 105153
Anzahl Zeichen: 3507
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Interim report September 1, 2011 - November 30, 2011"
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