Negative restructuring effects
Lower net sales but e-commerce growth continued in the quarter. Discount-driven sales squeezed gross margins and profit. Restructuring work continues at a steady rate but affected business operations. Operating income before restructuring expenses and impairment of goodwill was SEK -32 M (3) in the quarter.
FOURTH QUARTER, JUNE 1, 2019 – AUGUST 31, 2019 IN SUMMARY
· Net sales decreased to SEK 552 M (561).
· Comparable sales for the Group on all national markets decreased by -1.3 percent.
· Sales for comparable units in Sweden decreased by -0.3