KappAhl: Q2 Net Sales down 1.5%

KappAhl Store

Fashion retailer KappAhl has unveiled its second quarter results for the fiscal year 2015-16. In the period under consideration, the company has noted 1.5 per cent decrease in sales to SEK 1,116 million compared with last year’s SEK 1,133 million.

KappAhl’s Gross Profit for the quarter was SEK 654 million versus SEK 655 million in the corresponding period last year which corresponds to a Gross Margin of 58.6 per cent. The Operating Profit totalled SEK 31 million. Profit after financial items was SEK 29 million and the profit after estimated tax was SEK 14 million. Earnings per share for the quarter were SEK 0.18. The company’s cash flow from operating activities amounted to SEK 15 million during the quarter. At the end of the period inventories amounted to SEK 753 million as against SEK 706 million, noting an increase of SEK 47 million compared with the previous year.

The company further said that strategic work is continuing on the course set. The aim is to create desired effects on sales with increased full price sales at good margins. It is also focusing on giving better experience to its customers via developing effective working methods.

Also Read – KappAhl hosts sustainability contest for textile, fashion students

Besides this, the retailer mentioned in its report that interest of students in its first ever KappAhl Sustainable Design Contest, a competition for fashion and textile students who want to be involved in developing sustainable future design solutions, was great. It further informed that the winners of the contest will get to work with KappAhl to put their idea into practice. The results of the contest will be announced soon.

 

[SOURCE :-apparelresources]