Lower costs and reduced inventories
Quarter (Dec Six (Sept
2 -Feb) months -Feb)
2011/201 2010/ Change 2011/20 2010/2 Change
2 2011 12 011
Net sales, SEK million 1 119 1 188 -69 2 312 2 529 -217
Operating profit excluding -55 16 -71 -39 162 -201
non-recurring costs, SEK
million
Operating profit, SEK million -138 16 -154 -122 162 -284
Gross profit margin, % 51,9 57,2 55,3 60,5
Operating margin, % -12,3 1,3 -5,3 6,4
Profit after tax, SEK million -163 1 -164 -174 96 -270
Earnings per share, SEK -0,72 0,01 -0,73 -1,16 0,58 -1,74
Cash flow from operating 68 -12 80 63 48 15
activities, SEK million
· Net sales decreased by 5.8 per cent for the quarter and 8.6 per cent for the
half year.
· Earnings were reduced by non-recurring costs of SEK 83 million, including
impairment loss on non-current assets.
· Actions has been started, focusing on regaining lost market share in
business area Woman.
· The consolidated gross profit for 1-28 March was the same as last year.
“Our plan for 2012 gives priority to our Woman range, our Offer, our Stores and
profitable Expansion. (…) We are continuing to work to our plan and expect to
see an initial response to our work of change soon.”
Johan Åberg, President and CEO. Read the full CEO statement in the enclosed
report.
A presentation and telephone conference will be held for analysts, media and
investors today at 9.00 at Operaterrassen in Stockholm. To register attendance
at Operaterrassen, or to view the webcast please go to
www.kappahl.com/presentations. To participate by telephone please call +46 207
750 99 50 about 5 minutes before the start.
For further information, please contact:
Johan Åberg / President and CEO Tel. +46 706 09 99 73
Håkan Westin / CFO Tel. +46 704 71 56 64
For pictures and other information:
Annette Björklund / Head PR Tel. +46 704 71 55 42, annette.bjorklund@kappahl.com
Lower costs and reduced inventories
| Source: KappAhl Holding AB
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