Swedish retailer SkiStar posts Q2 FY21 revenue of SEK 1,328 mn

23 Mar '21

2 min read

Pic: Skistar

SkiStar AB, a Swedish retail company, has reported 31 per cent revenue decrease to SEK 1,328 million in its second quarter (Q2) FY21 that ended on February 28, 2021 compared to the revenue of SEK 1,931 million in the same period previous fiscal. Company’s profit after tax for the quarter fell to SEK 365 million (Q2 FY20: SEK 642 million).

“Our solid preparatory work for the winter season in dialogue with local and national organisations and services has meant that we have been able to run the 2020/21 winter season safely and securely so far, with a range of precautionary measures in place. The start of the season was slightly delayed due to a mild November, but since then we have had very good snow conditions at all destinations,” Stefan Sjöstrand, CEO of SkiStar, said in a press release.

Company stated that the decline in the sales during the quarter was mainly due to strict coronavirus-related restrictions, notably in Norway and Austria. It was also partly due to the fact that six out of seven sales days in week nine, the most intensive winter holiday week, were in the company’s Q3 this financial year, whereas in the previous year, all week nine sales days fell in Q2.

“We are focusing strongly on summer for the first time ever, starting in Sälen, Åre and Trysil. With Sports & Adventures, we aim to get more people enjoying an active mountain holiday in summer, by living well, eating well and exercising with family and friends through Valle Kids Club for younger children, Teen Camp Bike for older children and fast-paced activities for the whole family,” Sjöstrand said.

Fibre2Fashion News Desk (JL)

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