KappAhl reports -2.1% fall in H2 sales, Q2 sales up
KappAhl, the Swedish high street fashion retailer, has announced its latest H1 and Q2 results and says it sees a continued stable trend.
For the six months between September 2014 and February 2015, KappAhl's sales fell by 2.1% to 2,307m SEK. The company said gross profit fell from 1,430m SEK to 1,398m SEK in the period, but operating profit rose to SEK 104m, up from 102m the previous year.
In the second quarter (December-February), net sales were up by 1.7% to 1,133m SEK and gross profit increased to 655m year-on-year, up from 643m. Operating profit was up to 9m from 3m.
"Sales in the second quarter increased by 1.7% compared with the previous year and the gross margin was stable, 57.8 (57.7)%. With good Christmas sales and a well-implemented discount strategy inventories are at satisfactory levels and the operative cash flow is continuing its positive trend," said CEO and President Johan Åberg.
KappAhl says the opening of its first Newbie store has been a success and that it is reviewing the possibility of opening more brand-specific stores. This summer it will also open Shop Online in Poland.
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