Clas Ohlson remains steady at plus two per cent during Christmas period

The Swedish retailer Clas Ohlson has reported a sales increase of 2 per cent to SEK 2.746 bn (EUR 270 mio) for the third quarter of its fiscal 2017/2018 (1 November 2017 to 31 January 2018). Sales increased by 4 per cent in local currencies. The growth of the company for the first nine months of the financial year is likewise 2 per cent to SEK 6.528 bn (EUR 643 mio) and 3 per cent in local currencies. Clas Ohlson attributes its steady development in the third quarter to factors including brisk business over Christmas, with the best-ever sales during a festive season.
In the nine-month review, Clas Ohlson grew by just 1 per cent in Sweden, by 2 per cent in Norway (5 per cent in local currency) and by 9 per cent (7 per cent) in Finland. In the other countries in which it trades - Great Britain, Germany and Dubai - sales declined by 14 per cent (12 per cent). The downturn is primarily due to the company's desire to optimise its store network in Great Britain by closing stores.