RNB divests its operations at Steen & Str?n Oslo

(Thomson Reuters ONE) - RNB RETAIL AND BRANDS has decided to sell its operations at the Steen & Str?epartment store in Oslo, Norway, to Airport Retail Group AS. RNB currentlysells women's and men's clothing. The retail area totals about 2,300 squaremeters.Sales in the 2008/2009 fiscal year totaled SEK 117.6 M and the company posted anoperating loss of SEK 5.2 M. In the first quarter of 2009/2010, sales at unitsunder divestment amounted to SEK 25.6 M, resulting in an operating loss of SEK3.0 M. The transaction will have a limited impact on earnings. The transfer isexpected to be completed no later than March 31, 2010, which means that Steen &Str?ill be part of RNB up until the second quarter of the 2009/2010 fiscalyear.For further information, contact:Mikael Solberg, CEO, RNB RETAIL AND BRANDS +46 (0)8-410?520 20, +46 (0)768-8720 20, e-mail: mikael.solberg(at)rnb.se Cecilia Lannebo, IR, RNB RETAIL AND BRANDS +46 (0)8-410 520 45,+46?768 87 20 45, e-mail: cecilia.lannebo(at)rnb.seRNB RETAIL AND BRANDS owns, operates and develops fashion, clothing,accessories, jewelry and cosmetics stores that focus on providing excellentservice and a world-class shopping experience. Sales are mainly conducted inScandinavia through the three store concepts Brothers & Sisters, JC and PolarnO. Pyret, as well as through shops in the department stores NK in Stockholm andGothenburg, Steen & Str?n Oslo and Illum in Copenhagen. RNB RETAIL AND BRANDShas operation in 11 countries. RNB RETAIL AND BRANDS has been listed on the OMXNordic Exchange since 2001.Airport Retail Group AS (ARG) in briefARG currently operates 15 fashion and taxfree airport stores in Sweden, Norwayand Finland. In addition, the company owns Outlet One the first large scaleNorwegian outlet. ARG had combined revenues of app 480 NOK mill in 2009. ARG wasestablished in 2005, when the airport trading activities of the SAS Group waspurchased by Jotunfjell Partners, a Norwegian private investment company with along track record in the Scandinavian retail industry.[HUG#1377697] RNB SST January 2010: http://hugin.info/132993/R/1377697/338670.pdf

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Datum: 28.01.2010 - 02:31 Uhr
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