March sales 'touch below expectations' weigh on Clas Ohlson shares

Clas Ohlson AB

08/04/2024 08:50

** Shares in Swedish retail company Clas Ohlson  CLASb.ST 
fall 2% after it reported light sales figures for March
    ** SEB says the reported sales are "touch below
expectations" and that is dragging the stock down
    ** March sales were negatively impacted by calendar effects
of about 5 percentage points, the company says
    ** Its sales in March, excluding the acquired Spares Group,
came to SEK 648 million ($60.9 million)
    ** SEB says the March figure could be seen as "somewhat
light" after very strong numbers in the prior periods, but adds
it is still a decent figure considering the calendar effect
    ** Online sales for March, excluding Spares, fell 5% from
last year to SEK 78 million
    
($1 = 10.6347 Swedish crowns)

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))