Clas Ohlson: growth through openings

In the third quarter of its financial year (1 November 2012 to 31 January 2013) the Swedish chain Clas Ohlson recorded sales of SEK 2.169 bn, which is six per cent up on the previous year. There were increases in all the four countries where the company operates: six per cent to SEK 999 mio in Sweden, six per cent as well in Norway to SEK 883 mio, eleven per cent to SEK 195 mio in Finland and two per cent to SEK 92 mio in Britain. During this period Clas Ohlson opened one new store in Sweden (72 outlets altogether), two in Norway (61) and two in Finland (27); the total of twelve in Britain remained unchanged. The sales increase is due to these new openings, since the quarterly sales figure was two per cent down in like-for-like terms. Moreover, the main responsibility for the sales growth of five per cent to SEK 4.988 bn in the first nine months is attributable to the 15 new openings. Like-for-like sales went down by three per cent over this period.