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Swedish retailer Clas Ohlson’s sales fall 11% in February

Mar 10, 2021

STOCKHOLM (Reuters) – DIY and homewares group Clas Ohlson said on Wednesday organic sales fell 11% in February, despite a 112% jump in e-commerce as many shoppers moved online due to the COVID-19 pandemic.

The Swedish budget retailer reported a 6% drop in pretax profit for its fiscal third quarter to the end of January from a year earlier, to 265 million crowns ($31.1 million) on a sales decline of 9%.

($1 = 8.5269 Swedish crowns)

(Reporting by Anna Ringstrom, Editing by Helena Soderpalm)