rnb retail and brands news and archive

RNB Retail and Brands sells Brothers, appoints new CFO

RNB Retail and Brands AB has appointed Richard Roa as chief financial officer (CFO). The company also announced that after divesting the operations in Departments & Stores and the companies within Polarn O. Pyret earlier in 2021, an agreement has now been entered into to divest Brothers to Jotunfjell Partners AS for a purchase price of 10...

Business

RNB Retail and Brands Q4 sales increase

For the fourth quarter, net sales at RNB Retail and Brands increased to 85 million Swedish krona, while Brothers’ sales for comparable units in Sweden increased by 17.5 percent. The company said in a statement that operating income from remaining operations was negative 7 million Swedish krona, while profit after tax was negative 11 million...

Business

RNB Retail posts Q3 comparable sales increase of 20.1 percent

For its third quarter, RNB Retail and Brands reposted net sales increase to 61 million Swedish krona compared to 59 million Swedish krona in the third quarter of the previous year. The company said that comparable sales on all national markets for all business areas increased by 20.1 percent, while sales for comparable units in Sweden for all...

Business

RNB completes divestment of Polarn O. Pyret

RNB Retail and Brands AB has closed the divestment of Polarn O. Pyret, announced on March 10, 2021. The company said in a release that the transaction has now been approved by the company’s bondholders and the Swedish Competition Authority. The buyer is the private equity investor Procuritas. The company added that following a 40 million Swedish...

Business

RNB Retail to sell Departments & Stores to NK Retail

RNB Retail and Brands AB has finalised a deal to divest the assets of Departments & Stores to NK Retail AB. As part of the agreement, the company said in a statement, all Departments & Stores employees are offered employment with NK Retail. The deal is expected to close February 3, 2021, and is subject to final formal approval from certain...

Business

RNB reports positive sales growth in December

Total sales for all comparable stores at RNB, the company said in a statement, developed positively in December 2017, up by 2.1 percent compared with the previous year. For comparable stores in Sweden, the increase was 0.8 percent against the 4.7 percent decrease in the Swedish clothing market's sales in comparable stores, according to...

Business

RNB Retail and Brands Q1 comparable sales up 0.6 percent

RNB Retail and Brands said in a press release that for the first quarter, sales in comparable Swedish stores increased by 0.6 percent above the market downturn of 2.3 percent. Net sales were 583 million Swedish krona (69 million dollars) compared to 584 million Swedish krona (69.5 million dollars) in the same quarter last year. E-commerce sales...