Sweden's Clas Ohlson May-July net sales rise
Sweden's Clas Ohlson May-July net sales rise
Overview
Sweden home goods retailer's May-July net sales rose 16% yr/yr, driven by organic growth and acquisitions
July sales up 15% yr/yr, with strong growth in all home markets and e-commerce channels
Company expanded store network by 9 locations to 250 stores at period end
Outlook
Company says rapid NOK fluctuations will have negative effects from currency hedging in the quarter
Result Drivers
ORGANIC GROWTH - Co said organic sales increase was driven by strong sales across the range, including comparable units and expanded store network
ACQUISITIONS - Sales growth attributed in part to acquisitions of Phonelife AB and Reservdelaronline Sverige AB
E-COMMERCE PERFORMANCE - Sales in other markets doubled, driven by B2C and B2B in e-commerce channels under Spares
Company press release: ID:nWkr8yG6zT
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Sales |
| SEK 3.28 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the home improvement products & services retailers peer group is "buy."
Wall Street's median 12-month price target for Clas Ohlson AB is SEK440.00, about 5% above its August 6 closing price of SEK419.00
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)