Swedish retailer SkiStar earns fourth quarter profit of SEK 80 mn

Reopening of all the Swedish and Norwegian destinations has boosted SkiStar’s fourth quarter (Q4) sales which grew 51 per cent to SEK 246 million (Swedish krona) compared to the sales of SEK 162 million in the same quarter of previous fiscal. The Swedish ski wear retailer’s profit for the quarter expanded to SEK 80 million (Q4 FY20: loss SEK 101 million).

 

With reopening of all Swedish and Norwegian destinations, SkiStar AB has ended the fourth quarter (Q4) of FY21 with 51 per cent sales jump to SEK 246 million (Swedish krona) compared to the sales of SEK 162 million in the same quarter of previous fiscal. The Swedish ski wear retailer’s profit for the quarter expanded to SEK 80 million (loss SEK 101 million).

“We end a year in which we have delivered positive results, in the middle of an ongoing pandemic, with an extremely strong momentum in business development, acquisitions and divestments,” Stefan Sjostrand, CEO of SkiStar, said in a press release.

 

With reopening of all Swedish and Norwegian destinations, SkiStar AB has ended the fourth quarter (Q4) of FY21 with 51 per cent sales jump to SEK 246 million (Swedish krona) compared to the sales of SEK 162 million in the same quarter of previous fiscal. The Swedish ski wear retailer’s profit for the quarter expanded to SEK 80 million (loss SEK 101 million).

“All Swedish and Norwegian destinations remained open throughout the winter season with more new guests visiting us. However, the absence of foreign guests has had an adverse effect on our earnings. Our new focus on the summer months, with SkiStar Sports & Adventures, has contributed to more summer guests,” Sjostrand continued.

 

With reopening of all Swedish and Norwegian destinations, SkiStar AB has ended the fourth quarter (Q4) of FY21 with 51 per cent sales jump to SEK 246 million (Swedish krona) compared to the sales of SEK 162 million in the same quarter of previous fiscal. The Swedish ski wear retailer’s profit for the quarter expanded to SEK 80 million (loss SEK 101 million).

During Q4 FY21, sales from SkiPass segment increased to SEK 32 million (SEK 17 million). Moreover, sales from Ski Rental segment rose to SEK 7 million (SEK 2 million) and Sporting goods outlets sales surged to SEK 21 million (SEK 19 million).

 

With reopening of all Swedish and Norwegian destinations, SkiStar AB has ended the fourth quarter (Q4) of FY21 with 51 per cent sales jump to SEK 246 million (Swedish krona) compared to the sales of SEK 162 million in the same quarter of previous fiscal. The Swedish ski wear retailer’s profit for the quarter expanded to SEK 80 million (loss SEK 101 million).

“Our retail operations continue to grow strongly, particularly online at skistarshop.com, with growth of 16 per cent during the financial year. Our digital platforms increased 14 per cent,” Sjostrand added. 

 

With reopening of all Swedish and Norwegian destinations, SkiStar AB has ended the fourth quarter (Q4) of FY21 with 51 per cent sales jump to SEK 246 million (Swedish krona) compared to the sales of SEK 162 million in the same quarter of previous fiscal. The Swedish ski wear retailer’s profit for the quarter expanded to SEK 80 million (loss SEK 101 million).

The retailer’s operating income for the three-month period totalled to SEK 301 million (SEK 199 million).

 

With reopening of all Swedish and Norwegian destinations, SkiStar AB has ended the fourth quarter (Q4) of FY21 with 51 per cent sales jump to SEK 246 million (Swedish krona) compared to the sales of SEK 162 million in the same quarter of previous fiscal. The Swedish ski wear retailer’s profit for the quarter expanded to SEK 80 million (loss SEK 101 million).

“We are better equipped than ever for the coming financial year, having successfully conducted our operations over two summer seasons and two winter seasons during the pandemic. Despite Covid-19, we have confidence in all the experience and knowledge we have built up as a company during this sometimes challenging period,” Sjostrand said in the release.

Fibre2Fashion News Desk (JL)