RnB Retail sales down 6.1% in FY'13

01 Nov '13

2 min read

RnB Retail and Brands announces results (September 1, 2012 - August 31, 2013)

FOURTH QUARTER, JUNE 1, 2013 – AUGUST 31, 2013 IN SUMMARY

-Net sales totaled SEK 642 M (671), a decrease of 4.3 percent.

-Provisions and write-downs, primarily related to the closing down of JC stores and the closure of Sisters, have been made with SEK 152 M.

-Operating income, including provisions and write-downs, amounted to SEK -182 M (-230).

-Profit before tax amounted to SEK -182 M (-258).

-Profit after tax amounted to SEK -182 M (-250), corresponding to SEK -5.38 (-302.49) per share.

-Cash from operating activities amounted to SEK -6 M (-12).

-2 new stores were opened (excluding stores taken over and closed).

THE PERIOD, SEPTEMBER 1, 2012 – AUGUST 31, 2013 in summary

-Net sales totaled SEK 2,620 M (2,791), a decrease of 6.1 percent.

-Provisions and write-downs, primarily related to closing down JC stores and the closure of Sisters, have been made with SEK 152 M.

-A write-down of SEK 260 M of the JC trademark was made during the year. In the previous year, a write-down of

-SEK 201 M was made in relation to goodwill values in Brothers & Sisters.

-Operating income, incl. provisions and write-downs, amounted to SEK -237 M (-102) excluding this year’s and the previous year’s write-downs of trademark and goodwill of SEK 260 M (201).

-Profit before tax amounted to SEK -523 M (-360).

-Profit after tax amounted to SEK -524 M (-329), corresponding to SEK -45.46 (-397.64) per share. The result includes a write-down of SEK 203 M after tax of the JC trademark and the previous year’s write-down of goodwill in Brothers & Sisters of SEK 201 M.

-Cash from operating activities amounted to SEK -90 M (-4).

-The rights issue of SEK 463 M in total was completed. Net proceeds from the issue have been utilized for repayment of loans and to strengthen the company’s cash flow.

-Kosta Outlet Mode AB was sold to Airport Retail Group. The transaction was completed on June 1, 2013.

-15 new stores were opened (excluding stores taken over and closed).

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RnB Retail and Brands

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