Clas Ohlson closes markets and focuses on the London region

Clas Ohlson is planning to close a total of seven stores in the UK during financial year 2016/17. It is reported that the Swedish retailer will focus on accelerating the clustering of new smaller-format stores in the London region. "We are in the process of optimising our network of stores in the UK market to improve the long-term profitability of our UK business. As part of this development, we are now taking the opportunity to exit a number of stores that have not met expectations in terms of sales and profitability. However, our commitment to the UK market remains solid. It is our intention to continue our expansion by adding new stores in the London area," says Klas Balkow, president and CEO of Clas Ohlson.
Following the opening of the new smaller-format stores in St Albans and Ealing earlier this year, the plan is to open an additional one to two stores in the London area during financial year 2016/17.