Five per cent up thanks to expansion

The Swedish retailer Clas Ohlson ended the first quarter of its fiscal year from May to July with sales of SEK 1.462 bn. The five per cent increase compared with the same period in the previous year is attributable to the opening of 19 new stores since the comparable reference date, as like-for-like sales were down five per cent on the previous year.In its Swedish home market, the company’s sales grew by four per cent to SEK 692 mio. In Norway, sales grew by seven per cent to SEK 593 mio and in Finland by four per cent to SEK 121 mio. Its business in the UK showed the strongest growth, increasing by 13 per cent to SEK 56 mio. The company has high expectations of its mail order and online business. It launched a new e-commerce platform in Sweden and Norway at the end of April and in the UK at the end of June. The mail order business has grown by 64 per cent to a volume of SEK 29 mio.In August, Clas Ohlson’s sales were up by one per cent compared with same month last year, although sales in Sweden declined by one per cent. The company had 162 stores at the end of the month. 15 to 20 new stores are expected to open in the current fiscal year.