Home / Knowledge / News / Fashion / KappAhl net sales for 2016-17 rises 4.1 %
KappAhl net sales for 2016-17 rises 4.1 %
16
Oct '17
Courtesy: Kappahl
Courtesy: Kappahl
The net sales of KappAhl, a leading fashion chain based in the Nordic region, for the financial year 2016-17 has increased 4.1 per cent to SEK 4,916 (4,724) million. For the fourth quarter of fiscal 2017, the company's net sales remained unchanged at SEK 1,248 (1,248) million in comparison to the corresponding period of the previous year.

Gross profit for the full year was SEK 3,056 (2,918) million, which corresponded to gross margin of 62.2 (61.8) per cent for previous year. Similarly, gross profit for the fourth quarter was SEK 757 (724) million, which corresponded to gross margin of 60.7(58.0) per cent.

The operating profit for the year was SEK 448 (350) million, equivalent to operating margin of 9.1 (7.4) per cent. For the fourth quarter of 2017, the operating profit was SEK 139 (99) million, equivalent to operating margin of 11.1 (7.9) per cent. 

For 2017, profit before tax was SEK 427 (341) million and profit after tax was SEK 364 (245) million. Profit before tax was SEK 124 (95) million and profit after tax was SEK 141 (59) million for the fourth quarter.

"The 2016/2017 financial year was yet another step towards KappAhl’s financial targets–to achieve an operating margin of 10 per cent and a sales increase of 4 per cent over a business cycle. The operating margin for the year was 9.1 (7.4) per cent and sales increased by 4.1 per cent. An improved gross margin, leverage on costs and the restructuring programme in Poland are positive factors affecting the profit for the year," said Danny Feltmann, president and chief executive officer.

KappAhl's cash flow from operating activities before changes in working capital was SEK 529 (439) million for the year. The improvement mainly refers to a higher operating profit. The change in inventories is mainly related to an increased inventory turnover rate. Investments of SEK 177 (120) million were made during the period, mainly referring to investments in existing and newly opened stores and process and IT related investments.

"We have confirmation that our efforts are having an effect and our development work is now continuing at a sustained pace. The pace of investment will probably continue to be high as we adapt the store network and develop omni-channel services. The exciting expansion of Newbie Stores continues, in existing markets and to the United Kingdom. A guiding star in the ongoing work is the right fashion for our customer, when and how the customer chooses. The goal is for KappAhl to be the first-hand choice, thus laying the foundation for continued growth. We are continuing this journey with great enthusiasm," concluded Feltmann. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

SABIC signs MoU with PRC province for petrochem complex

Textiles | On 26th Sep 2018

SABIC signs MoU with PRC province for petrochem complex

The Saudi Basic Industries Corporation (SABIC) recently announced the ...

Courtesy: Industree Skill Transform

Textiles | On 26th Sep 2018

Industree helps weavers enhance design capabilities

Industree Skill Transform Pvt Ltd (ISTPL) is a skill development...

Courtesy: Pexels

Textiles | On 26th Sep 2018

Fitch raises growth forecast for India to 7.8% in 2018-19

Rating agency Fitch last week raised India’s growth forecast for...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Hardik Sanghvi,

Hardik Sanghvi

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

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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


October 2018

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

news category


Related Categories:

Advanced Search