Q1 2023 Kid ASA Earnings Call Transcript
Good morning, and welcome to this first-quarter presentation for Kid ASA. Here with us today, we have Anders Fjeld, CEO in Kid, who will take us through the quarter. Also, if you have any questions during the presentation, I ask you to address them online in the chat function.
So I'll give the floor to you, Anders.
Thank you, Joachim. Hello, everybody, for those of you present in the audience and also on the webcast. I will guide you through today's presentation. I will do my best.
Okay. Let's start by summarizing the quarter. We had strong performance in Norway and in a challenging retail market in Sweden and Estonia led to a group revenue increase of 0.1%. That comes on the back of a strong 6.1% last year. The like-for-like revenue decreased by 0.3% and, again, on a strong 7.3% last year.
The gross margin decreased by 5.2 percentage points and mainly caused by sale of goods purchased last year at high freight rates without corresponding price adjustments
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