Clas Ohlson Q2 operating profit beats expectations

STOCKHOLM, Sweden - Swedish retailer Clas Ohlson posted fiscal second-quarter earnings above expectations on Tuesday, while November sales were roughly in line with the forecast.

Clas Ohlson, which sells home, technology and hobby products, said its operating profit was 151 million Swedish crowns ($20.0 million), beating expectations for 142 million crowns in a Reuters poll of analysts.

November sales rose by 6.3 percent to 746 million crowns, which was slightly lower than the 6.6 percent rise seen in a Reuters poll.

$1 = 7.5412 Swedish crowns