Sweden-based New Wave Group, which owns brands such as Craft and Cutter & Back and distributes several others, said in a press release that it is forecasting higher sales and earnings than the market expectations for the first quarter. On April 12, New Wave said its operating profit for the first quarter of 2022 increased by SEK 109.0 million to SEK 209.1 million (€20.3m). Expectations were SEK 141 million (€13.7m), according to an average forecast from S&P Global based on two estimates. Net income increased by SEK 85.8 million to SEK 153.5 million (€14.9m). Net sales for the quarter totaled SEK 1,775 million (€172.4m), an increase of 36 percent in local currencies. The full interim report for Q1 will be published on April 26.