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KappAhl profit misses consensus by 59.0% in fiscal Q3

KappAhl AB said its normalized net income for the fiscal third quarter ended May 31 amounted to 30 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 74 öre per share.

EPS fell 42.2% year over year from 52 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 23.1 million kronor, a decrease of 41.3% from 39.4 million kronor in the year-earlier period.

The normalized profit margin dropped to 2.0% from 3.3% in the year-earlier period.

Total revenue decreased 5.7% on an annual basis to 1.13 billion kronor from 1.20 billion kronor, and total operating expenses came to 1.09 billion kronor, compared with 1.10 billion kronor in the prior-year period.

Reported net income fell 45.5% year over year to 23.0 million kronor, or 30 öre per share, from 42.3 million kronor, or 56 öre per share.

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