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KappAhl posts SEK 1,217 million sales for Q3 2017
29
Jun '17
For the third quarter of 2017, KappAhl, a leading fashion chain in the Nordic region, has recorded increase in sales by 1.8 per cent to SEK 1,217 (1,195) million. Sales have increased by 5.5 per cent in 9 months of the financial year. Over the rolling twelve months, it has contributed to sales growth of 6.3 per cent and an operating margin of 8.3 per cent.

"The quarter started cautiously but picked up towards the end. An aggressive market contributed to a higher percentage of discounted sales, which had a negative impact on the margin. Despite this, determined work on our new range strategy and pricing and campaign strategy has led to yet another good quarter," said Danny Feltmann, president and chief executive officer.

For the reported period, the gross margin was 63.7 (64.9) and was negatively impacted by a higher percentage of clearance sales, changes in the range mix and a continued weak krona compared with the previous year.  

"Our new range strategy, Scandinavian Feminine, was introduced to customers during the quarter. Our customers have appreciated a consistently attractive trouser range, supplemented by trends such as bomber jackets and fashion influenced by Asian pattern mixes. At the same time our children's range continues to be successful," added Feltmann.

KappAhl has decided to open newbie store and associated online shopping in the United Kingdom. The first stores are expected to open during the fall. (RR)

Fibre2Fashion News Desk – India


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