DECLINED SALES FOR KAPPAHL SEPT-OCT 2011
(Thomson Reuters ONE) -
KappAhl's sales during the period of September to October 2011 is expected to
decline by 13 percent in comparable stores compared to the same period last
year. Meanwhile, gross margin is expected to drop 4.5 percentages.
- The trend we have seen during the summer continues. The market is weak due to
cautious consumers and our offer does not fully attract our customers the way it
should. We adapt our business by adjustments in the assortment and cost saving
in line what we previously communicated. We see results of the savings already
now while our offer will take some months to adjust, says Christian W. Jansson,
President and CEO.
As previously announced, a new share issue of approximately SEK 600 million,
with preferential rights for the company's shareholders, is carried out in order
to strengthen KappAhl's financial position and creating prerequisites for long
term growth and profitability.
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 images and other information:
Annette Björklund, Head Public Relations, phone +46 704 71 55 42, e-mail
annette.bjorklund(at)kappahl.com
KappAhl is a leading Nordic fashion chain with more than 370 stores and close to
4 900 co-workers in Sweden, Norway, Finland, Poland and the Czech Republic.
KappAhl designs, markets and sells value-for-money fashion and focus in
particular on women 30-50 years of age. During the financial year 2010/2011,
KappAhl had sales of close to SEK 5 billion, with an operating profit of SEK
222 million. KappAhl shares are listed on the Nasdaq OMX Stockholm. In 1999,
KappAhl was the first fashion chain to receive environmental management standard
certification. Further information is available at www.kappahl.com
KappAhl AB (publ) discloses the information provided here pursuant to the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was submitted for publication on 31 October 2011 at 7.30 a.m.
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: KappAhl via Thomson Reuters ONE
[HUG#1559350]
Unternehmensinformation / Kurzprofil:
Datum: 31.10.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 81958
Anzahl Zeichen: 2901
contact information:
Town:
Mölndal
Kategorie:
Business News
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