Byggmax says sales hit by long, hard winter (updated)

Byggmax AB

03/04/2018 09:24

(Adds detail, share)
    April 3 (Reuters) - Swedish building materials retailer
Byggmax Group  BMAX.ST  warned on Tuesday that an unseasonally
long winter in its Nordic home market had hit sales in the first
quarter, sending its shares down almost 7 percent.
    * Says long winter delays season start, impacts Byggmax
Group's
sales negatively in the first quarter
    * Says ‍Byggmax Group's sales for Q1 decreased about -15
pct​
    * Says historically, a late season start has not necessarily
implied a poor sales development for full year
    * Says sales for the Byggmax segment decreased about 12 pct,
and sales for Skånska Byggvaror decreased about 36 pct
    * Byggmax CEO Mattias Ankarberg says in statement: "we have
a
seasonal business that is focused on outdoor projects and the
outdoor season has started later than in over a decade."
    * Ankarberg says has seen "good sales development in indoor
categories, suggesting consumer interest for home improvement
projects remains high"
    * Q1 is Byggmax' seasonally slowest quarter in terms of
sales
    * Byggmax shares fall 6.6 pct at 0821 GMT

Source text for Eikon:  ID:nWkr8nnVD1 
Further company coverage:  BMAX.ST 

 (Reporting by Niklas Pollard)
 ((niklas.pollard@thomsonreuters.com;))