Q2 2022 Kid ASA Earnings Call Transcript
Good morning, everybody, and welcome to this Q2 presentation for Kid ASA. (Conference Instructions)
The group revenue increased in the period with 8.8% compared to 3.9% last year. It was yet another quarter with continued topline growth, following an increase in footfall to the physical stores and revenue from new categories. The like-for-like growth, including online sales, ended up at 5.6%, and that comes on top of a strong performance in Q2 during 2021 and 2020.
A reduction in the gross margin compared with a particularly strong Q2 last year, is mainly caused by increased freight costs, which now have -- which now we believe have peaked out and will come down in the coming quarters.
Our spring collection was somewhat delayed as expected. And to avoid inventory buildup from seasonal products, we decided to campaign these products specifically more at the end of the quarter. I would also like to point out the OpEx-to-sales that ended up at 47.4% compared with 49.4% last year, meaning, we have good cost control in a challenging market.
The
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