XXL ASA - First quarter 2017 results - Challenging winter hampered revenue growth
(WorldNews Norway)

Oslo, 25 April 2017: In the first quarter 2017 XXL ASA experienced challenging winter conditions with limited snow and cold combined with a March with no signs of the spring season. XXL delivered a growth of 2 per cent in the quarter compared to the same quarter last year. Through overall better pricing strategies XXL succeeded to improve gross margins in Norway and Finland, while the Swedish gross margin declined. The markets proved difficult with overall low demand. As a consequence, it was difficult to achieve scale in the stores. XXL compensated with cost cuts where possible resulting in an EBITDA of NOK 34 million with a corresponding margin of 2 per cent. Highlights Q1 2017 - Total...