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KappAhl profit misses consensus by 31.2% in fiscal Q4

KappAhl AB said its normalized net income for the fiscal fourth quarter ended Aug. 31 amounted to 38 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 55 öre per share.

EPS declined 22.7% year over year from 49 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 29.2 million kronor, a decrease of 21.4% from 37.1 million kronor in the prior-year period.

The normalized profit margin declined to 2.5% from 3.1% in the year-earlier period.

Total revenue fell year over year to 1.15 billion kronor from 1.18 billion kronor, and total operating expenses decreased year over year to 1.10 billion kronor from 1.12 billion kronor.

Reported net income decreased 6.9% from the prior-year period to 29.9 million kronor, or 39 öre per share, from 32.1 million kronor, or 43 öre per share.

For the year, the company's normalized net income totaled 1.45 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.57 kronor.

EPS declined 14.4% from 1.69 kronor in the prior year.

Normalized net income was 110.4 million kronor, a decrease of 13.6% from 127.8 million kronor in the prior year.

Full-year total revenue fell year over year to 4.59 billion kronor from 4.74 billion kronor, and total operating expenses fell year over year to 4.39 billion kronor from 4.47 billion kronor.

The company said reported net income declined 14.3% year over year to 110.6 million kronor, or 1.45 kronor per share, in the full year, from 129.1 million kronor, or 1.71 kronor per share.

As of Nov. 20, US$1 was equivalent to 8.68 Swedish kronor.