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BRIEF-Kappahl Q1 EBIT tops expectations, flags higher investments
December 21, 2016 / 6:42 AM / 10 months ago

BRIEF-Kappahl Q1 EBIT tops expectations, flags higher investments

Dec 21 (Reuters) - Kappahl

* Q1 operating profit 144 million sek

* Q1 sales 1 261 million sek

* Reuters poll: average forecast for kappahl Q1 op profit was 131 million sek, sales 1,228 million

* Q1 gross margin 65,3 percent

* says we see positive results from the new range strategies

* says recent weakening of swedish krona, given current currency situation is permanent or continues to develop in direction unfavorable for kappahl, involves challenge to ability to maintain gross margins in coming quarters

* says scandinavian market has contributed increased sales in local currency in q1

* says the intensive development work, focusing on our digital platform and acceleration of store upgrades, will be maintained going forward

* says intense development work will mean a return to higher investment levels Source text for Eikon: Further company coverage: (Reporting By Anna Ringstrom)

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