Swedish retailer SkiStar's Q3 FY21 revenue grows 76% to SEK 1,023 mn

26 Jun '21

2 min read

Pic: Skistar

SkiStar AB, a Swedish retail company, has reported 76 per cent revenue jump to SEK 1,023 million in its third quarter (Q3) of FY21 ended on May 31, 2021, compared to the revenue of SEK 580 million in the corresponding quarter of previous fiscal. The company’s profit for the quarter rose to SEK 39.1 million (Q3 FY20: loss SEK 9.8 million).

“Despite the current circumstances of the continuing coronavirus pandemic in Scandinavia, with the winter season behind us, we can present a positive third quarter for SkiStar. I am extremely proud of what we as a company have delivered during this season: safety and security for our guests,” Stefan Sjostrand, CEO of SkiStar, said in a press release.

“In addition, there continues to be keen interest in holidaying at our destinations, with alpine skiing as the number one choice,” Sjostrand added.

During Q3 FY21, sales of SkiPass segment were up to SEK 460 million (SEK 263 million), while accommodation segment sales surged to SEK 264 million (SEK 148 million). Moreover, sales of Ski Rental grew to SEK 49 million (SEK 30 million) and Sporting goods outlets increased to SEK 54 million (SEK 40 million).

“The challenges in Norway remain. The closed borders and the consequent loss of foreign guests have reduced sales, which is having a negative effect on earnings. However, we see a positive trend for winter 2021/22, with our foreign guests returning strongly and a large order intake for all destinations. Many guests tend to book early and we have winter bookings of 30 per cent up to the end of week 23,” Sjostrand said in the release.

Fibre2Fashion News Desk (JL)

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