KappAhl rolls out Q3 financial report
Sweden-based KappAhl, one of the leading Nordic fashion chains with nearly 380 stores in Europe, has rolled out its financial report for the March-May 2016 quarter, announcing yet another commendable period for the company.
During the period, sales of the fashion retailer increased by 1.8% to SEK 1,217 million as against SEK 1,195 million in the corresponding quarter last year and the operating profit was SEK 119 million up by 15.53% when compared to the same quarter of FY 2015-16. On the other hand, total sales zoomed 5.5% in the 9 months of the current financial year and over the rolling 12 months have contributed to sales growth of 6.3% with an operating margin of 8.3%.
Meanwhile, the gross margin of the company was 63.7% as against 64.9% Y-o-Y and was negatively impacted by a higher percentage of clearance sales, changes in the range mix and a continued weak krona compared to the previous year.
Danny Feltmann, President & CEO, KappAhl, commented, “The quarter started cautiously but picked up towards the end. An aggressive market contributed to a higher percentage of discounted sales, which had a negative impact on the margin. Despite this, determined work on our new range strategy and pricing, and campaign strategy has led to yet another good quarter.”
In Q3. the gross margin of KappAhl was 63.7% as against 64.9% Y-o-Y and was negatively impacted.