Preliminary net sales for June - August 2019 amount to SEK 1,322 million (1,239) with a preliminary operating profit of SEK 108 million (66). Preliminary net sales and operating profit for the full year 2018/2019, the period September 2018 - August 2019, amount to SEK 4,902 million (4,760) and SEK 211 (282) million respectively, adjusted for non-recurring costs of SEK 43 million, incurred in the third quarter.

Selected key figures

June June 2018 -  September 2018 -  September 2017 - 
2019 - 
Amounts in  August August 2018  August 2019  August 2018 
SEK million 2019 
 
Net sales  1,322  1,239  4,902  4,760 
Gross 749  733  2,915  2,942 
profit 
Operating 108  66  168  282 
profit 
Gross 56.7 %  59.2 %  59.5 %  61.8 % 
margin 
Operating 8.2 %   5.3 %  3.4 %  5.9 % 
margin 

Sales in the quarter increased by about 7 per cent compared with the same period of the previous year, which is a considerable improvement compared with the weak third-quarter sales reported by KappAhl. However, sales were associated with a large proportion of clearance sales and campaigns, which had some impact on the gross margin. The operating profit was positively impacted by the previously announced earnings improvement programme, which is delivering clear savings in both stores and administrative functions.

KappAhl's fourth quarter report for 2019 will be published at 07.30 (CET) on 9 October 2019.

The information was released for public disclosure, through the agency of the contact persons below, at 3.50 pm CEST on 11 September 2019