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

Alliance to form joint entity for safety in factories

Textiles | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Courtesy: Skineez Skincarewear

Apparel/Garments | On 24th Apr 2018

Skineez, Walmart partner for smart wearables

Skineez Skincarewear, a leading cosmotextile skincarewear company,...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Eric Scholler
Groz-Beckert

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search