In connection with the interim report, the board of directors announces the initiation of a share buyback program of its own common shares. The repurchases may amount to a maximum of SEK 30 million, corresponding to a maximum of 2.5 million shares. The stated purpose is to optimize the company's capital structure, with the intention that the acquired shares will be withdrawn through a reduction of share capital at the next annual general meeting. The program will be carried out by Danske Bank during the period August 17, 2026 to February 17, 2027.
The weak financial trend from the first quarter of the year continued in the second quarter. As in the beginning of the year, the company states that it has not been quick enough to act on positive customer signals. CEO Helena Karlinder-Östlundh explains in the report that the purchasing work for the spring and summer season lacked the accuracy required, especially within the categories of tops and dresses. This resulted in too low volumes of best-selling products.
Assortment Committee and Strategy Committee
The report also highlights a number of areas that showed positive development. Sales of jeans, trousers and knitwear grew compared to the previous year. In addition, the sales share of Nelly's own brands amounted to 64.1 percent. The quarter also showed a return rate that improved to 27.7 percent.
To manage a rapidly changing competitive landscape, the company has initiated in-depth work to strengthen the business in the long term. This development work includes, among other things, positioning, branding, data, AI and supply chains. As part of the process, the board of directors has updated its organization and established an assortment committee and a strategy committee.