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RNB Retail and Brands Q4 sales increase

By Prachi Singh

22 Sep 2021

Business

Image: Brothers media gallery

For the fourth quarter, net sales at RNB Retail and Brands increased to 85 million Swedish krona, while Brothers’ sales for comparable units in Sweden increased by 17.5 percent.

The company said in a statement that operating income from remaining operations was negative 7 million Swedish krona, while profit after tax was negative 11 million Swedish krona and earnings in the period totaled negative 6 million Swedish krona with earnings per share negative 0.07 Swedish krona.

“Positive news in the period included a continued increase in visitor numbers in physical stores and higher than expected sales. However, delays to deliveries of the fall fashion range affected results towards the end of the period.The strict cost control measures continued in the quarter, and will remain in place until stable sales growth is achieved. The process of finding a suitable solution for RNB and Brothers continues,” said Kristian Lustin, the company’s president and CEO.

RNB Retail posts drop in full year sales, earnings improve

For the full year, the company’s net sales decreased to 248 million SWedish krona, while comparable sales on all national markets for all business areas decreased by 14.3 percent. Sales for comparable units in Sweden for the business areas decreased by 17 percent.

The company added that operating income from remaining operations was negative 21 million Swedish krona, profit after tax was negative 56 million Swedish krona, earnings in the period totaled 111 million Swedish krona, while earnings per share was 1.08 Swedish krona.

Fourth quarter net sales in the Brothers business area totaled 85 million Swedish krona, while sales in comparable stores increased by 17.5 percent and e-commerce as a proportion of comparable sales amounted to 12 percent.

Net sales in the Brothers business area totaled 248 million Swedish krona for the full year, while sales in comparable stores decreased by -20.3 percent. E-commerce as a percentage of comparable sales was 15 percent.