Brief: XXL Says Sales Development In Q2 Has Been Disappointing

Xxl AS

12/07/2024 06:27

July 12 (Reuters) - XXL ASA  XXL.OL :
    * SALES DEVELOPMENT IN Q2 HAS BEEN DISAPPOINTING, DRIVEN BY
LOW
SALES OF CAPITAL-INTENSIVE GOODS IN GENERAL AND BIKES IN
PARTICULAR
    * EARLY SIGNS OF MARKET RECOVERY ARE SEEN IN MAINLY SWEDEN
AND
PARTLY ALSO NORWAY
    * WILL HAVE FULL FOCUS AHEAD ON TURNING AROUND SALES
DEVELOPMENT
IN A CONTINUED CHALLENGING AND CAMPAIGN DRIVEN MARKET
    * FIVE MUST WIN BATTLES ARE EXPECTED TO DELIVER AN EBITDA
UPLIFT
OF NOK 500-750 MILLION DURING NEXT 12 MONTHS
    * TOTAL CAPEX FOR XXL GROUP IN 2024 IS EXPECTED TO REMAIN
MODEST
AT AROUND NOK 100-150 MILLION
    * HAS THUS FAR NO NEW STORE OPENINGS SIGNED IN 2024
    * MID- TO LONG-TERM XXL CONTINUES TO EXPECT PACE OF STORE
ROLL-OUT
TO BE 2-3 NEW STORES PER YEAR

Source text for Eikon:  ID:nObikJqmka 
Further company coverage:  XXL.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))