Streamlining programme extended and restructuring taking place, to managing the change in the retail sector and the effects of reduced sales

During the first quarter of 2018, ITAB launched a streamlining programme, with one of the goals being reduced costs. The start of the third quarter was weaker than anticipated, and as a result the streamlining programme is being further extended. At the same time, aggressive initiatives are being implemented in relation to new concepts and products for the shops of the future. In conjunction with this, the sales organisation is being optimised to ensure that ITAB’s all-inclusive offer and leading-edge products in the shops of the future are being exposed to both new and existing customers, which is expected to result in increased sales. These measures are intended to counteract the more volatile market in the short term and strengthen ITAB’s market position in the long term. 

In its last interim report, ITAB stated that the change currently taking place within the retail sector means that the market is difficult to judge in the short term. The assessment now is that certain parts of the market will be cautious for the remainder of the year, with reduced sales as a result. In ITAB’s judgement, currency-adjusted sales for the period January-September 2018 will fall by around 7% compared to the same period last year, which will have an adverse impact on profits. 

  

These figures are preliminary and are based on the results up until 31 August 2018.

ITAB will comment further on the trend and the savings programme in the interim report for January-September 2018, which will be published on 26 October 2018. 

For further information, please contact:

ITAB Shop Concept AB 

CEO  Ulf Rostedt 

Phone:  46 36 31 73 00

Mobile:  46 70 694 86 82

Box 9054, SE-550 09 JÖNKÖPING, SWEDEN   

Telefon: 46 [0]36 31 73 00

www.itab.com, www.itabgroup.com

ITAB Shop Concept AB sells, develops, manufactures and installs complete shop fitting concepts for retail chain stores. The all-inclusive offer includes custom-made fitting concepts, checkouts, self-checkout systems and professional lighting systems and digital solutions for the physical store. Customers include the major players throughout most parts of Europe. ITAB is the market leader at checkout to retailers in Europe, and one of Europe’s largest suppliers of shop fitting concepts and lighting systems. The group has approximately 3,500 employees and had 2017 a turnover of SEK 6,381 million. ITAB B-share is listed on the Nasdaq Stockholm.