XXL ASA (OTCPK:XXLLY)

$ 0.05 0 (0%) Market Cap: 123.18 Mil Enterprise Value: 413.56 Mil PE Ratio: 0 PB Ratio: 0.56 GF Score: 46/100

Q1 2023 XXL ASA Earnings Call Transcript

Apr 26, 2023 / 06:30AM GMT

Release Date Price: $0.726

Transcript

Tolle O. R. Groterud

XXL ASA - EVP of HR, Communications & Sustainability

Good morning, ladies and gentlemen, and welcome to the first quarter results presentation. My name is Tolle Groterud, and I have the pleasure of guiding you through today's presentation. And our CFO and Interim CEO, Stein Eriksen, will take you through the results and the key drivers and then followed by a Q&A session. And for media, there will be an opportunity to perform separate interviews after the presentation. So please direct your request to our press contact.

So without further introductions, I turn the floor over to you, Stein.

Stein Alexander Eriksen

XXL ASA - Interim CEO & CFO

Thank you, Tolle. Good morning, everyone. Yes. So then let's look at Q1 and the results. I just wanted to start with this slide.

As you know, XXL ended 2022 with NOK 500 million in too high inventory. And in Q1, we did what we said we were going to do. We launched the biggest clearance campaign in 3 years. And this, combined with continued reduction of incoming goods

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