KappAhl AB’s (publ.) majority shareholder, Mellby Gård AB, has made a public takeover bid for all shares in KappAhl, with the final date for acceptance on 20 September 2019. The independent bid committé has therefore decided to present some preliminary financial statements for the fourth quarter.
Preliminary net sales for June – August 2019 amount to SEK 1,322 million (1,239) with a preliminary operating profit of SEK 108 million (66). Preliminary net sales and operating profit for the full year 2018/2019, the period September 2018 – August 2019, amount to SEK 4,902 million (4,760) and SEK 211 (282) million respectively, adjusted for non-recurring costs of SEK 43 million, incurred in the third quarter.
Sales in the quarter increased by about 7 % compared with the same period of the previous year, which is a considerable improvement compared with the weak third-quarter sales reported by KappAhl. However, sales were associated with a large proportion of clearance sales and campaigns, which had some impact on the gross margin. The operating profit was positively impacted by the previously announced earnings improvement programme, which is delivering clear savings in both stores and administrative functions.
KappAhl’s fourth quarter report for 2019 will be published at 07.30 (CET) on October 9, 2019.
KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with 380 KappAhl and Newbie stores, including Shop Online, in Sweden, Norway, Finland, Poland and Great Britain. Our business idea is to offer value-for-money fashion of our own design to the many people. Sustainability-labelled fashion accounts for 57 % of the range. Sales for 2017/2018 totalled SEK 4.8 billion and the company has approx. 4000 employees in ten countries. KappAhl is quoted on Nasdaq Stockholm.