Swedish retailer Clas Ohlson's Q1 sales jump on new product launches, store expansion
Swedish retailer Clas Ohlson's Q1 sales jump on new product launches, store expansion
Overview
Sweden retailer's Q1 net sales rose 16% yr/yr, with 11% organic growth
Q1 operating profit and EPS increased yr/yr
Company cites product assortment, brand and cost discipline as drivers of growth
Outlook
Clas Ohlson aims to open about 10 net new stores per year over the next three years
Company sees further growth opportunities through operational efficiency and selective acquisitions
Preparations underway for the important Christmas season and new autumn product launches
Result Drivers
PRODUCT ASSORTMENT - Co said successful launches of new seasonal and tech products contributed to sales growth
STORE AND ONLINE EXPANSION - Co said new stores and growing e-commerce channels helped drive sales
COST DISCIPLINE - Co said operational efficiency and cost discipline supported profitability
Company press release: ID:nMFN3wDJ6z
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 EPS |
| SEK 4.75 |
|
Q1 Profit After Tax |
| SEK 302 mln |
|
Q1 EBIT |
| SEK 393 mln |
|
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 SEK480.00, about 8.1% above its September 2 closing price of SEK444.20
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago
Reuters Recommended Reads
Aug 31 - Swedish central bank's Jansson says inflation risks are up slightly
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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.)