rnb retail news and archive

RNB Retail Q2 comparable sales drop by 26.2 percent

For the second quarter, net sales at RNB Retail decreased to 47 million Swedish krona compared to 118 million Swedish krona in the same quarter last year. The company said in a release that comparable sales on all national markets for all business decreased by 26.2 percent. RNB Retail posts negative result in Q2 Sales for comparable units in...

Business

RNB to sell Polarn O. Pyret to Procuritas

RNB Retail and Brands AB has announced that the company reached an agreement to sell Polarn O. Pyret to Procuritas for a preliminary value of 330 million Swedish krona on a cash and debt-free basis. “During the past year’s pandemic, Polarn O. Pyret has proved that the company has an attractive offer and that it remains resilient and very...

Business

RNB Retail posts 32.8 percent drop in Q4 comparable sales

For the fourth quarter, RNB Retail said net sales decreased to 326 million Swedish krona, while comparable sales for the group on all national markets decreased by 32.8 percent. The company said in a statement that sales for comparable units in Sweden decreased by 35.5 percent, compared to the market downturn of 18.4 percent and operating income...

Fashion

RNB Retail names Christopher Englinde as new CEO of Brothers

RNB Retail and Brands’ Brothers business CEO Lina Söderqvist is leaving the company. The company said in statement that Brothers’ current deputy CEO/assortment director Christopher Englinde has been appointed the new CEO. He will take office on September 1, 2020. “During Brother’s corporate reorganization, Lina has also done a very good job of...

Business

RNB Retail’s Q3 comparable sales down 32.1 percent

For the third quarter to May 31, 2020, RNB Retail said net sales decreased to 324 million Swedish krona compared to 511 million Swedish krona in the same quarter of the previous year, while the company’s comparable sales for decreased by 32.1, percent. Sales for comparable units in Sweden decreased by 32.5 percent. The company said in a...

Business

RNB Retail focuses on reducing costs as sales drop

RNB Retail and Brands AB has announced that its subsidiaries Department & Stores Europe, Polarn O. Pyret and Brothers have all been severely impacted by the ongoing Covid-19 pandemic. As a result, the company said in a statement, retail sales halved during the months of March and April, while e-commerce increased. The company added that during...

BusinessFeatured

Q2 sales and profit down at RNB Retail, applies for restructuring of its subsidiaries

In its interim report for the second quarter and first six months, RNB Retail said reported net sales for the group were 561 million Swedish krona (54 million dollars) compared to 604 million Swedish krona in the second quarter. For comparable units in Sweden, sales were down 9.4 percent compared to positive 1.5 percent previous year, and for...

People

RNB Retail appoints new CEO of Departments & Stores

RNB Retail and Brands AB’s business area Departments & Stores has named Lars Jungerth as new CEO from January 14, 2020 in place of Yvonne Magnusson. The company said in a statement that this change is made as the separation work regarding the operations within the RNB Group is now completed. Commenting on the new appointment, Kristian Lustin,...

Business|REPORT

RNB Retail Q3 net sales up 0.7 percent

For the third quarter from March 1, 2016 to May 31, 2016, RNB Retail’s sales in comparable stores in Sweden increased by 1 percent. Net sales totalled 489 million Swedish krona (56 million dollars), an increase of 0.7 percent. Third quarter loss after tax amounted to 10 million Swedish krona (1.1 million dollars), corresponding to 0.28 Swdish...