During the first three months of the year, Bokusgruppen's net sales amounted to SEK 502.2 million, a decrease of 0.8 percent compared to the previous year (506.3). However, the company managed to strengthen the gross margin to 43.7 percent (42.5). The period's result improved to -1.7 million SEK (-3.8) and EBITA increased to 13.8 million (13.6).
Akademibokhandeln Grows Online
Development varied between the group's different segments during the quarter:
- Akademibokhandeln: The segment increased its total sales by 2.8 percent. Growth was particularly strong in the online channel, which rose by 7.3 percent, while physical stores increased by 2.2 percent.
- Bokus: Sales decreased by 6.9 percent. According to the company, the decline is mainly explained by reduced sales to students and a shorter pre-order period for the book sale.
Record for Book Sale and New Platform
The annual book sale in February is described as the strongest ever for the group in terms of both sales and profitability. The company's CEO Patrik Övreby, who assumed his position on April 1, comments on the quarter in the report:
We are summarizing a stable quarter where strengthened gross margins meant that EBITA increased by 1.4 percent, despite a slight decrease in sales. Akademibokhandeln's good development continued, with one less store in the store network.
After the end of the quarter, on April 14, Bokus also launched its new e-commerce platform. The company has now moved both of its consumer brands to new technical platforms, which is expected to strengthen competitiveness through faster business development and increased cost efficiency.
Changes in Store Network
The store network has undergone several changes. In January, the store at Odenplan in Stockholm was closed because the property owner is going to demolish the building. The search for a replacement premises is ongoing as the area is considered strategically important.
At the same time, the group is expanding in other locations. On April 1, a former franchise store in Marieberg Galleria outside Örebro was taken over, and in June the opening of a new store in Skärholmen Centrum outside Stockholm is planned.
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