Brief: Clas Ohlson Q4 Operating Loss Narrows To SEK 10 Million

Clas Ohlson AB

08/06/2022 06:08

June 8 (Reuters) - Clas Ohlson AB  CLASb.ST :
    * CLAS OHLSON YEAR-END REPORT 2021/22
    * Q4 SALES INCREASED BY 16% TO 1,780 MSEK (1,538), ORGANIC
GROWTH
UP 12% AND UP 11% IN COMPARABLE UNITS
    * Q4 ONLINE SALES DECREASED BY 19 PER CENT TO 221 MSEK (274)
    * RETAIL SECTOR HAS BEEN UNDERGOING CHANGE FOR A LONG TIME,
BUT
PACE OF CHANGE HAS NEVER BEEN AS HIGH AS IN 2021/22 FINANCIAL
YEAR AND Q4 WE HAVE JUST CLOSED
    * Q4 OPERATING LOSS AMOUNTED TO -10 MSEK (-64)
    * WITH OUTBREAK OF WAR IN EUROPE, AN INCREASINGLY UNCERTAIN
GLOBAL
ECONOMY AND CONTINUED IMPACT FROM PANDEMIC, CUSTOMER BEHAVIOUR
IS CHANGING ALL QUICKER
    * WE ALSO NOTE THAT CUSTOMER PREFERENCES AND REACTIONS TO
GLOBAL
EVENTS DIFFER IN OUR VARIOUS MARKETS, FURTHER CONTRIBUTING TO
COMPLEXITY
    * LOOKING AT MOST RECENT QUARTER, TOTAL SALES INCREASED 16
PER
CENT
    * Q4 LOSS AFTER TAX TOTALLED -16 MSEK (-65)
    * SALES IN MAY INCREASED BY 3% TO 630 MSEK (610)
    * WE ARE ALSO ENTERING NEXT QUARTER WITH SLIGHTLY HIGHER
INVENTORIES COMPARED WITH SAME PERIOD LAST YEAR
    * ONLINE SALES IN MAY INCREASED BY 9% TO 81 MSEK (74)
    * DECISION TO DISCONTINUE REMAINING OPERATIONS IN UNITED
KINGDOM.
COST OF CLOSURE, WHICH WILL BE CHARGED TO FINANCIAL YEAR
2022/23, AMOUNTS TO APPROXIMATELY 35 MSEK

Source text for Eikon:  ID:nWkr681sTV 
Further company coverage:  CLASb.ST 

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