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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
In Q3. the gross margin
of KappAhl was 63.7%
as against 64.9% Y-o-Y
and was negatively
impacted.
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.”
NIKE clocks US $ 1 billion net income in Q4
and the Emerging Markets and
strong growth in Sportswear
and Running. Revenues from the
Converse brand stood at US $ 554
million, up 10% on a currency-
neutral basis, primarily driven by
the market transition in Italy and
growth in DTC, the company said.
American sportswear company
NIKE Inc. has reported
financial results for the fourth
quarter and full year ending
May 31, 2017. During the period
under review, international
geographies and the Direct-to-
Consumer (DTC) businesses
globally led strong revenue growth
for the retailer.
Net income for the quarter
increased by 19% to US $ 1.0
billion due to global revenue
growth, lower selling and
administrative expenses and a
lower tax rate which were slightly
offset by a gross margin decline.
The retailer noted 5% increase
in fourth quarter revenue to US
$ 8.7 billion, up 7% on a currency-
neutral basis.
“NIKE continues to create
both near-term wins in today’s
dynamic enviro