Home / Knowledge / News / Apparel/Garments / RNB Retail Q2'FY14 net sales drop 5.5%
RNB Retail Q2'FY14 net sales drop 5.5%
22
Apr '14
RNB Retail announces the interim report for September 1, 2013 - February 28, 2014 and reports second quarter results for December 1, 2013 – February 28, 2014.
 
Second quarter, December 1, 2013 – February 28, 2014
Net sales excluding the divested operation totaled SEK 502 M (531), a decrease of 5.5 percent. Operating income, excluding the divested operation, totaled SEK 2 M (2). Profit before tax, excluding the divested operation amounted to SEK -2 M (-10). Proft before tax, including the divested operation amounted to SEK -2 M (-41), excluding the previous year’s impairment of the JC trademark of SEK 260 M.
 
Profit after tax including the divested operation amounted to SEK -2 M (-300), corresponding to SEK -0.06 (-362.82) per share. The previous year’s result includes an impairment of SEK 203 M after tax of the JC trademark. Cash flow from operating activities was SEK 42 M (15). 24 new stores were added during the quarter, in connection with the acquisition of the Norwegian franchise business of Polarn O. Pyret. Otherwise, no new stores were opened during the period December - February.
 
During the quarter, Polarn O. Pyret AB acquired 100 percent of the shares in WAM AS in Norway. WAM AS was the master franchisee of Polarn O. Pyret in Noway. Completion of the acquisition occurred on January 2, 2014.
 
Half Year, September 1, 2013 – February 28, 2014 in Summary
-On November 1, 2013, RNB Agreement entered into an agreement to divest the subsidiary JC to Denim Island AB. During the first quarter of the present year, JC’s sales amounted to SEK 111 M (174) and operating income totaled SEK -6 M (-21).
-Net sales excluding the divested operation totaled SEK 986 M (1,025), a decrease of 3.8 percent.
-Operating income, excluding the divested operation, totaled SEK 17 M (22).
-Profit before tax, excluding the divested operation amounted to SEK 11 M (0).
-Proft before tax, including the divested operation amounted to SEK 5 M (-51), excluding the previous year’s impairment of the JC trademark of SEK 260 M.
-Profit after tax including the divested operation amounted to SEK 4 M (-311), corresponding to SEK 0.13 (-375.8) per share. The previous year’s result includes an impairment of SEK 203 M after tax of the JC trademark.
-Cash flow from operating activities was SEK 22 M (-41)
 
Apart from the takeover of 24 stores that occurred in Norway in connection with the acquistion of the Master Franchisee WAM AS, 1 new store (Polarn O. Pyret) was opened during the half-year.
 
During the first quarter, Polarn O. Pyret AB entered into an agreement to acquire 100 percent of the shares in WAM AS in Norway. WAM AS was the master franchisee of Polarn O. Pyret in Noway. Completion of the acquisition occurred on January 2, 2014.
 

RNB Retail and Brands


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search