"Weak market climate"

Clas Ohlson’s sales in July decreased by 4 per cent

(Source: Clas Ohlson)

Clas Ohlson’s sales in July 2022 decreased by 4 per cent to SEK 699 mio (approx. EUR 67.31 mio) after SEK 732 mio in the previous period. Organic sales decreased by 7 per cent compared to the previous year. Online sales increased by 2 per cent to SEK 63 mio (2021: SEK 62 mio). Compared to the same month last year the store network decreased by 4 stores. At the end of the period, the total number of stores was 225.

Total sales for the period May – July 2022 decreased by 1 per cent to SEK 2,044 mio. Organic sales decreased by 3 per cent compared to the previous year. Online sales for the period increased by 6 per cent to SEK 232 mio (2021: SEK 219 mio).

Kristofer Tonström, CEO and president, commented on the latest numbers: "The market climate in July was weak. In light of inflation and a more uncertain global situation, customers were more cautious. Our investment in a strong season with a larger inventory of relevant summer products did not turn out as expected. We have worked intensively to counter the changing conditions in the market, but despite more extensive campaign and marketing activities in all sales markets, including price reductions on seasonal products, our total sales decreased by four per cent, while online sales increased by two per cent. Not least the Norwegian market remained weak, with sales down ten per cent compared to the previous year. Similar to the market at large, we also see how higher purchasing prices, as well as higher transportation costs, are now having a stronger impact after previously being to a greater extent compensated by more favourable currency effects. We are now looking forward to the important autumn season with a relevant range of affordable products and continue to have full focus on our growth plan.“

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