Q1 2023 Clas Ohlson AB Earnings Call Transcript
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Good morning, and welcome to the Clas Ohlson Q1 report presentation. My name is Kristofer Tonström, and I'm the President and CEO of Clas Ohlson. .
So before moving into Q&A, I'll review a short presentation, starting with a overall business update, then going deeper into the financial development. And then ending off with events after the reporting period and then a short summary and wrap up.
So headline in the first quarter, obviously, a lot of things have happened since we were here last time close in Q4. So we have seen a lot of changes, obviously, in the market and also in terms of consumer behavior. And also now around, it's been a very busy summer with a lot of fast-paced changed -- change.
Looking at the first quarter, the results are below our expectations, and that's really very much driven by a summer bet that didn't pay out as we expected, and I'll come back to that.
So net-net, we're reporting sales of minus 1% to a bit
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