Fashion chain KappAhl FY'13 sales up 3.6%

Highlights:

- Net sales increased by 1.7 % for the quarter and 3.6 % for the full year.

- Sales in comparable stores increased during the quarter by 1.7 % and for the full year by 3.0 %.

- The gross margin improved by 2.5 percentage points for the full year.

- The Board of Directors proposes that no dividend be distributed for the financial year.

- New operative and financial targets have been set.

“In brief, it has been a good year for KappAhl. We have achieved the year's targets and report increased sales, stronger gross margins and improved earnings. We have taken measures and are closing the year with a strong balance sheet.” said Johan Åberg, President and CEO.

KappAhl was established in 1953 and is a leading fashion chain soon with 400 stores and 4,500 employees in Sweden, Norway, Finland, Poland and the Czech Republic. KappAhl sells value-for-money fashion with a wide appeal – to women, men and children – and focuses in particular on women aged 30-50 with families.

KappAh