Clas Ohlson down year-on-year in first quarter

In the first quarter of the 2022/2023 financial year (May to July), the sales of Swedish retailer Clas Ohlson fell 1 per cent year-on-year, totalling SEK 2.044 bn (EUR 191.1 mio). Like-for-like sales fell by 3 per cent. Online sales increased by 6 per cent to SEK 232 mio (EUR 21.7 mio).

"Following a record strong year in 2021/22, I can state that our bets in the first quarter of 2022/23 did not meet our expectations," CEO Kristofer Tonström said, commenting on the figures. "We prepared ourselves for an early and strong summer season that picked up later than planned and developed weaker than in last year. This was especially significant in Norway, where consumer confidence fell to historically low levels during the quarter."