Market and demand: Sales in the ready-to-wear and fashion clothing industry in Sweden grew by 2.6% during the September/November 2007 period, according to the HUI index for comparable units. For RNB's operations, sales in comparable stores rose 1.6%.
Revenue and earnings: RNB's net sales during the period amounted to SEK 923.7 M (889.8), up 3.8%. Sales in comparable stores during the period rose 1.6%.
The gross profit margin for the period was 48.2% (48.5).
Operating profit amounted to SEK 81.5 M (86.8). Profit after net financial items amounted to SEK 70.3 M (77.3). Profit after tax amounted to SEK 54.8 M (62.2).
The synergies generated from the acquisition of JC had a favorable impact on earnings. However, the weak sales trend within JC and J-Store is estimated to have had an adverse impact of about SEK 30 M on earnings, compared with the year-earlier period. Brothers and Sisters, however, developed very well and reported favourable growth.
The units that were newly opened in august 2007 at the department stores Illum in Copenhagen and Steen & Ström in Oslo reported a loss of SEK 7 M during the first quarter.
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