RNB’s positive profit improvement trend continued in the first financial quarter . Even through the warm autumn weather and Swedish terror threat.
”My view remains that the strong momentum, which has spanned the entire operations for a long time, will continue,” comments CEO Magnus Håkansson.
For the first quarter 2015/2016, RNB reported operating income of 30 MSEK, an improvement of 7 million compared to the preceding year. The first quarter 2015/2016 was the company´s seventh consecutive quarter with better sales than the market.
The sales increase during the quarter for the three concepts´ comparable stores amounted to between 5 and 24 percent and to 12 percent for the Group overall.
”During the first quarter of the fiscal year, the strong sales trends continued for all three concepts and we are now reporting the seventh consecutive quarter with a better performance than the market.” comments CEO Magnus Håkansson.
Sales growth in comparable stores amounted to just over 20 percent for Polarn O. Pyret while the increase in Brothers totaled almost 17 percent. Although September and October were characterized by record warm weather.
”The warm weather during the fall was largely unfavorable for all three concepts, but particularly for Polarn O. Pyret and Brothers as it impeded sales of outdoor wear. Comparable sales in Departments & Stores increased by just over five percent during the quarter.”
”During the previous fiscal year, our organization underwent certain changes and now it is stable and strong. Our three concepts are performing very well towards consumers with increasing market shares and operating income as a conse- quence. anks to these successes, the whole organization is aiming for higher goals. We are not satisfied and we will continue to strive with full force to achieve further improvements in profitability.” concludes Magnus Håkansson.