KappAhl's revenues in Poland fall
13:40
Swedish fashion retailer KappAhl recorded a revenue drop of 3.3 percent to SEK 4.58 bln (PLN 2.07) in the last financial year. Consolidated net profit fell by 87 percent to SEK 208 mln.
Acting CEO of the company Anders Düring said that falling revenues are due to "the lower number of stores, poor situation in Finland and major challenges that the company is facing in Poland."
"In Poland, we have undertaken efforts to reverse the negative trend. A new country manager, who took the post in September, will focus on lowering the number of locations and will launch an online store in the first quarter," he added.
Poland is currently the only country in which the company has no online store. At the end of August, there were 40 outlets, compared with 47 in the previous year.
