KappAhl year-end report 2010/2011
(Thomson Reuters ONE) -
Year-end report 2010/2011
Very weak result
Fourth quarter
(June 2011 - August 2011)
· KappAhl's net sales for the period amounted to SEK 1,208 (1,290) million,
a decrease of 6.4 per cent.
· The operating profit was SEK 3 (156) million.
· The gross margin was 54.0 (59.6) per cent and the operating margin was
0.2 (12.1) per cent.
· Profit after tax was SEK -54 (125) million, which is equivalent to SEK
-0.72 (1.67) per share.
· Cash flow from operating activities was SEK -97 (222) million.
Full year
(September 2010 - August 2011)
· KappAhl's net sales for the period amounted to SEK 4,974 (5,111)
million, a decrease of 2.7 per cent.
· The operating profit was SEK 222 (551) million.
· The gross margin was 58.8 (61.8) per cent and the operating margin was
4.5 (10.8) per cent.
· Profit after tax was SEK 68 (402) million, which is equivalent to SEK
0.91 (5.36) per share.
· Cash flow from operating activities was SEK 95 (507) million.
· New three-year bank agreement.
CEO's comments
We have delivered a weak offer in a weak market. Our range has not sufficiently
met our customers' expectations. So we are making a new start as regards our
existing customers' needs to ensure that we have them in focus going forward. We
must be proud of our customer base and it has great potential for further
development. It has been our strength historically and as we look forward there
is much to indicate that it will continue to be so. Strategically we do not see
that anything has changed for our concept.
We have not been satisfied with the inventory control in the past year. We were
too optimistic regarding purchases and too late in running down inventories.
During the quarter the composition of inventories has improved but we have more
to do before we are content.
We have also negotiated a new loan agreement and the Board of Directors has
proposed a new share issue of SEK 600 million.
KappAhl has all the essentials for being successful again but we will probably
have to struggle with a weak market for some time.
Christian W. Jansson, President and Chief Executive Officer
Presentation and telephone conference for analysts, media and investors today at
09.00
The presentation will be held at Operaterrassen, Stockholm. To register please
visit www.kappahl.com/presentations
To participate by telephone please call +46 (0)8 5065 3937 (Sweden) or +44 (0)20
3106 4822 (United Kingdom) about 5 minutes before the start and quote the code
4590023.
For further information, please contact:
Christian W. Jansson, President and Chief Executive Officer, phone
+46 709 95 02 01
Håkan Westin, Chief Financial Officer, phone + 46 704 71 56 64
For pictures and other information:
Annette Björklund, Head of public relations, phone +46 704 71 55 42, e-mail
annette.bjorklund(at)kappahl.com
KappAhl is a leading fashion chain with 370 stores and 4 800 employees in
Sweden, Norway, Finland, Poland and the Czech Republic. KappAhl sells value-for-
money fashion with a wide appeal - to women, men and children - and focuses in
particular on women aged 30-50 with families. All clothes are from our own
designers. KappAhl was the first fashion chain in the world to achieve
environmental certification in 1999.
KappAhl year-end report 2010/2011:
http://hugin.info/136331/R/1550985/477631.pdf
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Source: KappAhl via Thomson Reuters ONE
[HUG#1550985]
Unternehmensinformation / Kurzprofil:
Datum: 30.09.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 70880
Anzahl Zeichen: 4441
contact information:
Town:
Mölndal
Kategorie:
Business News
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