Brief: Odd Molly Q3 Operating Result Turns To Loss of SEK 19.3 Mln

Logistea AB

25/10/2018 13:09

Oct 25 (Reuters) - Odd Molly International AB  ODD.ST :
    * INTERNATIONAL AB - COMPREHENSIVE ACTION PLAN TO REVERSE THE CURRENT TREND
    * COMPREHENSIVE ACTION PLAN TO REDUCE COMPLEXITY, TIED-UP CAPITAL AND OPERATING EXPENSES HAS
BEEN
RESOLVED
    * Q3 TOTAL OPERATING REVENUE DECREASED 26 PER CENT TO SEK 99.5 MILLION
    * OPERATING EXPENSES WILL BE REDUCED BY AROUND SEK 50 MILLION ON A FULL-YEAR BASIS.
    * RESTRUCTURING COSTS FOR ACTION PLAN OF SEK 5.8 MILLION WERE RECOGNIZED IN QUARTER.
    * NUMBER OF STORES OPERATED BY COMPANY IS PLANNED TO BE REDUCED FROM 17 TO SIX WITHIN NEXT
YEAR.
    * Q3 OPERATING LOSS WAS SEK -19.3 MILLION (6.6), NEGATIVELY AFFECTED BY RESTRUCTURING COSTS
OF SEK
5.8 MILLION (4.8)
    * SAW A LARGE NEGATIVE IMPACT IN ALL SALES CHANNELS FROM WARM WEATHER, WHERE MAJORITY OF
LOST
SALES COMING FROM OUTERWEAR AND KNITS

Source text for Eikon:  ID:nNDL33CVYT 
Further company coverage:  ODD.ST 

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