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 all national markets, sales decreased by 11.6 percent compared to positive 2.2 percent. The group’s gross margin decreased to 43 percent. Operating income for the quarter was negative 52 million Swedish krona (4.9 million dollars)compared to negative 28 million Swedish krona, while profit after tax amounted to negative 63 million Swedish krona (6 million dollars) against negative 35 million Swedish krona.