RNB Retail posts Q3 comparable sales increase of 20.1 percent

For its third quarter, RNB Retail and Brands reposted net sales increase to 61 million Swedish krona compared to 59 million Swedish krona in the third quarter of the previous year. The company said that comparable sales on all national markets for all business areas increased by 20.1 percent, while sales for comparable units in Sweden for all business areas increased by 14 percent.

Operating income reached negative 19 million Swedish krona compared to negative 88 million Swedish krona.

The company added that profit after tax from remaining operations was negative 27 million Swedish krona compared to negative 106 million Swedish krona, while profit after tax was 102 million Swedish krona compared to negative 318 million Swedish krona in the same quarter last year and earnings per share were 1 Swedish krona compared to negative 3.12 Swedish krona.

RNB Retail’s revenues decline in the nine month period

For the period from September 1, 2020 to May 31, 2021, the company said net sales decreased to 163 million Swedish krona, while comparable sales on all national markets for all business areas decreased by 17 percent. Sales for comparable units in Sweden for all business areas decreased by 20.5 percent.

Operating income from remaining operations for the period was negative 15 million Swedish krona compared to negative 160 million Swedish krona.

The company further said that profit after tax from remaining operations was negative 44 million Swedish krona compared to negative 198 million Swedish krona, profit after tax was 118 million Swedish krona compared to negative 385 million Swedish krona and earnings per share were 1.15 Swedish krona compared to negative 4.99 Swedish krona.

In March, the company divested Polarn O. Pyret business area for a preliminary purchase consideration of 353 million Swedish krona, the Departments & Stores business area was divested in the second quarter. The company added that at the beginning of May, CEO and President Kristian Lustin resigned to take up a new position with a different company.