departments & stores news and archive

RNB Retail to sell Departments & Stores to NK Retail

RNB Retail and Brands AB has finalised a deal to divest the assets of Departments & Stores to NK Retail AB. As part of the agreement, the company said in a statement, all Departments & Stores employees are offered employment with NK Retail. The deal is expected to close February 3, 2021, and is subject to final formal approval from certain...

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RNB Retail’s Q3 comparable sales down 32.1 percent

For the third quarter to May 31, 2020, RNB Retail said net sales decreased to 324 million Swedish krona compared to 511 million Swedish krona in the same quarter of the previous year, while the company’s comparable sales for decreased by 32.1, percent. Sales for comparable units in Sweden decreased by 32.5 percent. The company said in a...

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Q2 sales and profit down at RNB Retail, applies for restructuring of its subsidiaries

In its interim report for the second quarter and first six months, RNB Retail said reported net sales for the group were 561 million Swedish krona (54 million dollars) compared to 604 million Swedish krona in the second quarter. For comparable units in Sweden, sales were down 9.4 percent compared to positive 1.5 percent previous year, and for...

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RNB Retail appoints new CEO of Departments & Stores

RNB Retail and Brands AB’s business area Departments & Stores has named Lars Jungerth as new CEO from January 14, 2020 in place of Yvonne Magnusson. The company said in a statement that this change is made as the separation work regarding the operations within the RNB Group is now completed. Commenting on the new appointment, Kristian Lustin,...