Clas Ohlson has reported solid profit and sales growth for its fiscal third quarter, helped partially by the expansion of its store network.
For the three months to end-January, sales were up 9% to SEK2.7bn (+5% constant-currency basis), with operating profit up 2% to SEK390m, and net profit up 4% to SEK305m.
The chain said the results were helped by the addition of five net new stores, including outlets in Hamburg and Dubai. It also recorded a “high level of activity” in stores and online, adding that it was “very pleased with our Christmas trading performance”.
The results meant year-to-date sales were up 5% to SEK6.5bn (+4% constant-currency), although operating profit was down 6.5% to SEK459m, and net profit declined by 5.6% to SEK459m.
Clas Ohlson said it aims to open 10-15 new outlets in the next fiscal year, even as it continues working on its new formats and online operations.