RNB Retail Q3 net sales up 0.7 percent

For the third quarter from March 1, 2016 to May 31, 2016, RNB Retail’s sales in comparable stores in Sweden increased by 1 percent. Net sales totalled 489 million Swedish krona (56 million dollars), an increase of 0.7 percent. Third quarter loss after tax amounted to 10 million Swedish krona (1.1 million dollars), corresponding to 0.28 Swdish krona (3.23 dollars) per share

Operating income before amortization for the latest 12-month period totalled 89 million Swedish krona (10.1 million dollars) and operating income for the latest 12-month period totalled 42 million Swedish krona (4.8 million dollars).

The company’s brand Polarn O. Pyret acquired 51 percent of Kids Company Oy, a master franchise business in Finland, which is expected to generate sales of over 100 million Swedish krona (11.4 million dollars) on an annual basis and consists of 12 stores, an e-commerce store and three franchise stores in Finland.

From September 1, 2015 to May 31, 2016, sales in comparable stores increased by 3.7 percent during the period. Net sales totalled 1,618 million Swedish krona (185.7 million dollars), equivalent to an increase of 2.9 percent. Operating income totalled 30 million Swedish krona (3.4 million dollars) and profit before tax amounted to 15 million Swedish krona (1.7 million dollars).

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