1515
RNB RETAIL AND BRANDS: Interim Report 1 September 2020 - 28 February 2021

Focus on divestment

Following focused efforts to identify new owners of the subsidiaries, Departments & Stores (including Man of a kind) was divested in February and Polarn O. Pyret in March. The focus is now on finding a good solution for the remaining parts of the Group with RNB and Brothers.

SECOND QUARTER, DECEMBER 1, 2020 - FEBRUARY 28, 2021 IN SUMMARY
  • Net sales decreased to SEK 47 M (118).
  • Comparable sales on all national markets for all business areas decreased by -26.2 percent (-11.6).
  • Sales for comparable units in Sweden for all business areas decreased by -29.4 percent (-9.4), compared to the market downturn of -22.9 percent (0.1).
  • Operating income from remaining operations was SEK -40 M (-28).
  • Profit after tax from remaining operations was SEK -50 M (-38).
  • Profit after tax was SEK -173 M (-63).
  • Earnings per share was SEK -1.70 (-0.66).
  • Cash flow from operating activities was SEK -35 M (-32).
THE PERIOD, SEPTEMBER 1, 2020 - FEBRUARY 28, 2021 IN SUMMARY
  • Net sales decreased to SEK 102 M (235).
  • Comparable sales on all national markets for all business areas decreased by -21.8 percent (-10.3).
  • Sales for comparable units in Sweden for all business areas decreased by -25.1 percent (-8.9), compared to the market downturn of -28.4 percent (-1.2).
  • Operating income from remaining operations was SEK -20 M (-59).
  • Profit after tax from remaining operations was SEK -40 M (-77).
  • Profit after tax was SEK 16 M (-67).
  • Earnings per share was SEK 0.16 (-1.03).
  • Cash flow from operating activities was SEK 35 M (68).
EVENTS IN THE QUARTER
  • Operations in the Departments & Stores business area were divested in February.
EVENTS AFTER THE END OF THE QUARTER
  • The business area Polarn O. Pyret was divested for a preliminary purchase consideration of SEK 353 M.
  • The company remains affected by the restrictions resulting from Covid-19 and Swedish fashion retailing has not yet returned to the sales levels seen before the breakout of the pandemic.
Source: Cision
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