'Weak' February sales, supply chain worries weigh on Clas Ohlson shares

Clas Ohlson AB

09/03/2022 09:10

** Shares of Sweden-based hardware store chain Clas Ohlson
 CLASb.ST  slide 6% following the release of Q3 report and
February sales figures  urn:newsml:reuters.com:*:nFWN2VC00A
    ** The company's Q3 revenue rose 7% year-on-year to SEK 2.83
bln, representing an organic growth of 5%, while in February
sales increased 4% organically 
    ** Kepler Cheuvreux says Q3 results were broadly in line
with estimates, but current sales figures look rather weak 
    ** Clas Ohlson CEO said the group sees a continued positive
trend in overall product availability, adding, however, that
there are shortages in certain product categories and the war in
Ukraine could lead to further uncertainty in supply chains    
    ** The stock, which reversed its course after initially
rising 3.4% at market open on Wednesday, hits its lowest in four
months    

 (Reportng by Aleksandra Jasiurska)
 ((Aleksandra.jasiurska@thomsonreuters.com))