Clas Ohlson grows primarily online: sales up seven per cent in third quarter

Clas Ohlson grows primarily online: sales up seven per cent in third quarter

Scandinavian company Clas Ohlson increased its sales by seven per cent to SEK 2.831 bn (approx. EUR 0.27 bn) in the third quarter (1 November 2021 - 31 January 2022). In the same quarter last year, sales were SEK 2.635 bn. On a like-for-like basis, growth was 5 per cent. Online sales increased by 14 per cent to SEK 329 mio. Profit after tax reached SEK 287 mio (previous year: SEK 265 mio).

"We had prepared for a more open market and had a positive start to the Christmas season, but new restrictions affected customer frequency, and quarantine regulations and sickness absence caused further difficulties," explained CEO Kristofer Tonström. In addition, price increases in food, fuel and electricity, for example, affected customers during the quarter, Tonström said.

In the first nine months of Clas Ohlson's financial year (1 May 2021 to 31 January 2022), the company increased its sales by 4 per cent to SEK 7.004 bn (approx. EUR 0.66 bn). At the same time last year, the figure was SEK 6.746 bn. Like-for-like sales increased by 2 per cent. Online sales increased by 21 per cent to SEK 750 mio (approx. EUR 70.44 mio). Profit after tax reached SEK 538 mio.