Sweden-based apparel retailer KappAhl, in its recent financial report, reported a decrease in net sales by 3 per cent for the fourth quarter and a decrease of 3.3 per cent for the whole year. Operating profit of US $ 25 million, excluding the non-recurring items was reported for the full year, with the rate of investment observed to be double as compared to the last year.
The company also reported a decrease of 1.7 per cent in the overhead expenses. “The past year has been an intermediate year for KappAhl in terms of sales and profit growth. Nonetheless, it was an important year with a great focus on initiatives for the future” said Anders Düring, acting President and CEO.