Swedish fashion brand KappAhl has announced its financial results for the second quarter. During the period under review, the fashion retailer’s sales increased by 6.5 per cent; and by 7.4 per cent in the first half of the fiscal.
“In the second quarter of 2016-2017 our continued clarification of the collections together with our price and campaign strategy contributed to increased sales of 6.5 per cent compared with the previous year, of which the increase in comparable stores was 1.9 per cent,” said Danny Feltmann, President and CEO in a statement issued by the company.
The gross margin was positively affected by continued work on the pricing and campaign strategies. Operating profit improved and was SEK 47 million for the quarter as against SEK 31 million and SEK 190 million for the half year versus SEK 148 million in the first half of prior year.
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KappAhl, founded in 1953 in Gothenburg, is one of the leading Nordic fashion chains with nearly 380 stores in Sweden, Norway, Finland and Poland as well as Shop Online. In 2015-2016, its sales were SEK 4.7 billion and the number of employees was about 4,000 in nine countries.
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