Brief: Clas Ohlson Q1 Result Turns To Loss At SEK 24 Mln

Clas Ohlson AB

07/09/2022 06:14

Sept 7 (Reuters) - Clas Ohlson AB  CLASb.ST :
    * THREE-MONTH REPORT 2022/23
    * IN AUGUST INCREASED BY 7% TO 758 MSEK (711), AN ORGANIC
INCREASE
OF 2%
    * ONLINE SALES IN AUGUST INCREASED BY 42% TO 83 MSEK (58)
    * Q1 OPERATING PROFIT, EXCLUDING COSTS FOR CLOSURE OF
OPERATIONS
IN UK, TOTALLED 19 MSEK
    * Q1 OPERATING LOSS TOTALLED -16 MSEK (OPERATING PROFIT 147)
    * Q1 LOSS AFTER TAX TOTALLED -24 MSEK (PROFIT AFTER TAX 103)
    * INCREASED SOURCING COSTS ARE NOW HAVING A GREATER IMPACT
    * Q1 SALES DECLINED BY 1% TO 2,044 MSEK (2,056) WITH ORGANIC
SALES
DOWN 3%
    * MANY OF PRODUCTS WE SOLD DURING QUARTER WERE PURCHASED AT
A TIME
WHEN TRANSPORTATION COSTS WERE AT THEIR VERY HIGHEST
    * ONE POSITIVE FACTOR IS OUR RETAIL PRICES, WHICH HAVE
ALLOWED US
TO SUCCESSFULLY OFFSET MAJORITY OF INCREASED COSTS
    * WEAKER MARKET CLIMATE THAT RESULTED IN US PRIORITISING
PRICE
REDUCTIONS OF MANY OF OUR SUMMER PRODUCTS

Source text for Eikon:  ID:nWkr5LB53D 
Further company coverage:  CLASb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))