Reduced sales for Kjell store chain in fourth quarter

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Reduced sales for Kjell store chain in fourth quarter
Photo: Terje Bendiksby NTB/TT

Kjell Group's net sales fell by almost 10 percent in the fourth quarter of last year, to SEK 697.1 million, according to financial statements from the technology retailer.

Operating profit was a loss of 6.2 million, compared with a profit of 19.9 million a year earlier. Adjusted operating profit, however, rose to 37.8 million from 33.3 million.

The result is in line with preliminary figures presented in connection with the announcement of a new share issue in January.

"When you are in the middle of a transformation, the usual seasonal logic no longer applies. What is normally done routinely needs to be rethought. Changes have knock-on effects - short- and long-term, which became clear in this quarter," said CEO Sandra Gadd in a press release.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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