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By
Reuters
Published
Sep 10, 2014
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Clas Ohlson Q1 profit lags

By
Reuters
Published
Sep 10, 2014

STOCKHOLM, Sweden - Swedish retailer Clas Ohlson posted fiscal first-quarter earnings below expectations on Wednesday while August sales were higher than forecast.

Clas Ohlson store Mirdif City Centre Dubai | Source: Clas Ohlson



Clas Ohlson, which sells home, technology and hobby products, said its operating profit was 102 million Swedish crowns ($14.34 million), lagging expectations for 115 million crowns in a Reuters poll of analysts.

Sales in May-July increased by 9 percent to 1.64 billion crowns, in line with expectations.

Clas Ohlson's August sales rose by 9 percent to 611 million crowns, which was higher than the 7.6 percent rise seen in Reuters poll.

$1= 7.1131 Swedish crown

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