XXL ASA Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 26, 2022 at 09:34 pm EDT
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XXL ASA reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was NOK 2,313 million compared to NOK 2,686 million a year ago. Net income was NOK 42 million compared to NOK 70 million a year ago. Basic earnings per share from continuing operations was NOK 0.16 compared to NOK 0.28 a year ago. Diluted earnings per share from continuing operations was NOK 0.16 compared to NOK 0.28 a year ago.
For the nine months, sales was NOK 6,492 million compared to NOK 7,273 million a year ago. Net loss was NOK 80 million compared to net income of NOK 191 million a year ago. Basic loss per share from continuing operations was NOK 0.32 compared to basic earnings per share from continuing operations of NOK 0.76 a year ago.
XXL ASA, formerly known as Megasport AS, is a Norway-based retailer of sports and leisure equipment. The Company sells its products both online and in more than 90 stores across the Nordic countries and Austria. Its product portfolio comprises a range of products for sports, hunting, skiing, biking and other outdoor activities, as well as sportswear, shoes, health & fitness and sports technology products. XXL ASAâs operations are divided into five geographical segments: Norway, Sweden, Finland, Denmark, Austria as well as the HQ & Logistics segment. The Company has several subsidiaries, including XXL Sport og Villmark AS, XXL Sports & Outdoor Gmbh, XXL Sports & Outdoor OY and XXL Sports & Outdoor OY.