The exit from the Czech Republic is expected to have a marginal effect on the operating profit and should be completed before the end of 2013.
KappAhl maintains a stable platform in close to 400 stores in four countries. Management focus will now be directed towards the markets where KappAhl already has a well-established network of stores and where work with the ongoing action programme is expected to have a greater impact.
“We regularly review the profitability of our stores and at the present time we are not in a position to achieve a profit in the Czech Republic within a reasonable timescale and with reasonable resources. We want to focus our efforts on the markets where we can see results quickly,” says Johan Åberg, President and CEO.
KappAhl
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