Home / Knowledge / News / Apparel/Garments / Apparel retailer RNB Q3'FY14 net sales touches SEK 442 M
Apparel retailer RNB Q3'FY14 net sales touches SEK 442 M
26
Jun '14
RNB announces the interim report for 1 September 2013 - 31 May 2014 and reports third quarter results for March 1, 2014 - May 31, 2014.
 
Third Quarter, March 1, 2014 - May 31, 2014 in Summary
-Net sales amounted to SEK 442 M (609, including the divested JC-operation).
-An impairment of goodwill in Brothers & Sisters of SEK 151 M has occurred.
-Operating income, excluding impairment of goodwill, amounted to SEK -15 M (-27). Operating income during the previous year included SEK -8 M in respect of JC.
-Profit before tax, excluding impairment of goodwill, amounted to SEK -18 M (-30).
-Profit after tax amounted to SEK -169 M (-30), corresponding to SEK -4.99 (-2.99) per share. The result includes an impairment of the goodwill in Brothers & Sisters of SEK 151 M after tax.
-Cash flow from operating activities amounted to SEK -22 M (-44).
-Two new stores were added during the quarter, both franchise stores of Polarn O. Pyret, one in the UK and one in Estonia.
 
The Period, September 1, 2013 - May 31, 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 and its operating income totaled SEK -6 M. In the 9-month period of the previous year, JC's net sales amounted to SEK 509 M and its operating income totaled SEK -318 M, of which SEK -260 M related to impairment of the trademark in the second quarter.
 
Net sales amounted to SEK 1,538m (1,978, including the divested operation). An impairment of goodwill in Brothers & Sisters of SEK 151 M has occurred. Operating income, excluding impairment of goodwill in Brothers & Sisters, amounted to SEK -4 M (-55).
 
Profit before tax, including the divested operation, amounted to SEK -13 M (-81), excluding impairment of goodwill in Brothers & Sisters of SEK 151 M and impairment of goodwill and the previous year's impairment of the JC trademark (SEK 260 M). The equivalent result excluding the divested operation amounted to SEK -7 M (-23).
 
Profit after tax amounted to SEK -165 M (-341), corresponding to SEK -4.86 (-85.77) per share. The result includes this year's impairment of goodwill of SEK 151 M in Brothers & Sisters and the previous year's impairment of SEK 203 M after tax of the JC trademark. Cash flow from operating activities was SEK 0 M (-85)
 
Apart from the takeover of 24 stores that occurred in Norway in connection with the acquistion of the Master Franchisee WAM AS, three new stores (Polarn O. Pyret) were opened during the period, of which one was a proprietary store (Sweden) and two were franchise stores (UK and Estonia).
 
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 Norway. Completion of the acquisition occurred on January 2, 2014.
 

RNB Retail and Brands


Must ReadView All

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Riddhi Jain

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

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Mark Paterson
Technical Absorbents Ltd

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

December 2017

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
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

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
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

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
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

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
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


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