CEO Klas Balkow comments:
“With the fourth quarter behind us, which is our seasonally weakest quarter, we can now summarise the 2012/13 financial year. We continued to expand and capture market share during the year, with 5 per cent growth in local currencies in a weak retail market. Operating profit for the year, totalling SEK 431 M, was lower than the preceding year, primarily due to weaker sales in comparable stores.
With Clas Ohlson’s strong market position, brand and financial position as our base, we are expanding our concept to new customer segments. We are developing our offering to encompass corporate customers, with a focus on small and midsize offices, based on Clas Ohlson’s broad and attractively priced product range and extensive sales network. Launch, in Sweden and Norway initially, is scheduled for the first half of 2014. Our preparations for entering new markets continue, with one to two stores in northern Germany and e-commerce during the 2014 calendar year.
The new financial year started in a positive way, with 8 per cent sales growth in local currencies during May,” says Klas Balkow, President and CEO.
Analyst and media conference
An analyst and media conference will be held today, Tuesday 11 June at 10 a.m. (CET). For participation, please visit www.financialhearings.com
For more information, please contact:
Klas Balkow, CEO and President, Clas Ohlson AB: +46 (0)247-447 55
John Womack, Director of Information and IR, Clas Ohlson AB: +46 (0)247-444 05
The information in this interim report is such that Clas Ohlson is obligated to publish according to the Securities Market Act. This information was submitted for publication on 11 June 2013 at 08:00 a.m. (CET).