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3Q 2014
Management Board’s comments to the results for the III quarter of 2014
The result of the third quarter was comparable to last year’s one,
The result of the third quarter was comparable to last year’s one,
In the third quarter of 2014 INTERSPORT Polska SA Company achieved the result similar to the one of the third quarter 2013. However the structure of the financial result achieved by the Company in the period from January to September 2014 was different from the last year’s one. The loss recorded after the three quarters of this year is a consequence of a low profit earned in the first quarter of 2014. In the second quarter of this year the financial results were good (the recorded loss was 71% lower than in the same period of last year). In the third quarter of 2014 the loss recorded by the Company was on a level comparable to the analogous period of 2013.
In the period from July to September 2014, INTERSPORT Poland SA generated net revenue on sales of EUR 50,412 k which is comparable to the third quarter of 2013 (was: PLN 50,166 k) and recorded a loss before tax of PLN 1,964 k. which is comparable to the same period of 2013 (the loss recorded at that time: PLN 1,913 k).
In the period from July to September 2014, INTERSPORT Poland SA generated net revenue on sales of EUR 50,412 k which is comparable to the third quarter of 2013 (was: PLN 50,166 k) and recorded a loss before tax of PLN 1,964 k. which is comparable to the same period of 2013 (the loss recorded at that time: PLN 1,913 k).
Cumulatively, from January to September 2014, the Company generated net revenue on sales of PLN 165,551 k, i.e. 3.6% higher compared to the same period of 2013 (was: PLN 159,860 k). Due to seasonality of sales of sports goods, the Company has recorded loss in every third quarter of each year. From year to year the Company has attempted to reduce the loss by implementing activities that enhance sales and strengthen the sales of all-year assortment. In the third quarter of this year, the sales in July (+3.1%) and August (+5.9%) was good but the turnover in September (-8.3%) was lower than expected (mainly due to continuing high temperature outside). The sales of all-year product groups remained at a comparable level on year-to-year basis but the interest of customers in autumn clothing was lower than usual at this time. The sales during this period was additionally negatively affected by the closure of a large store at CH Riviera in Gdynia at the beginning of September which is currently undergoing optimization of the selling area and will re-open on 20 November.
MANAGEMENT BOARD OF INTERSPORT Polska SA
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