Annual operating profit for Swedish New Wave Group, whose business operates in three segments, increased by 5 percent to 1,577.2 million Swedish kroner (€140.4m) for the 12 months ended Dec. 31 as total revenues inched up by 2 percent to SEK 3,874.6 million (€344.9m) from SEK 3,782.3 million. In Q4, the operating profit fell by 5 percent to SEK 518.7 million (€46.2m) on a 3 percent decline in net sales to SEK 2,735.9 million (€243.5m).
The group’s Sports & Leisure segment, whose portfolio of 13 brands includes Craft, Cutter & Buck and Auclair, among others, suffered a 22 percent decline in final period operating profit to SEK 169.1 million (€15.1m) from a 7 percent drop in net sales to SEK 1,071.6 million (€95.4m). Sales in Sweden increased slightly and were flat in the US. Promotional sales rose slightly, while retail sales slipped by 9 percent.
For the full year, segment operating profit slipped by 5 percent to SEK 617.7 million (€55.0m) despite a 2.0 percent revenue increase to SEK 3,874.6 million (€344.9m). The segment had higher sales in all regions except the Nordics (excluding Sweden). Acquisitions added SEK 74.9 million (€6.7m) to the sales total.
