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RNB Retail & Brands fiscal Q3 loss narrows YOY

RNB Retail & Brands AB said its normalized net income for the fiscal third quarter ended May 31 came to a loss of 15 Swedish öre per share, compared with a loss of 34 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 5.3 million kronor, compared with a loss of 11.4 million kronor in the prior-year period.

The normalized profit margin increased to negative 1.1% from negative 2.6% in the year-earlier period.

Total revenue grew 9.9% on an annual basis to 485.3 million kronor from 441.5 million kronor, and total operating expenses grew 7.2% year over year to 489.1 million kronor from 456.1 million kronor.

Reported net income totaled a loss of 8.4 million kronor, or a loss of 25 öre per share, compared to a loss of 169.1 million kronor, or a loss of 4.99 kronor per share, in the year-earlier period.

As of June 23, US$1 was equivalent to 8.25 Swedish kronor.