Kappahl's Q1 sales drop 7.5 percent

Kappahl’s net sales for the quarter amounted to 1,166 million Swedish krona (139 million dollars), a decrease of 7.5 percent. The company said, the effect of new and closed stores on the total sales was negative 1.2 percent, change in comparable stores was negative 5.3 percent and translation differences in currencies totalled a negative 1 percent. Gross profit for the quarter was 753 million Swedish krona (90 million dollars) compared to 824 million Swedish krona (98 million dollars), corresponding to a gross margin of 64.6 percent against 65.3 percent.