RPT-Sweden's Clas Ohlson says sales reflect people staying more at home [Reuters]
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Source: Reuters
Sweden's Clas Ohlson says sales reflect people staying more at home STOCKHOLM (Reuters) - Swedish DIY and homewares retailer Clas Ohlson ( CLASb.ST ) said on Wednesday that although the COVID-19 pandemic had hit sales in March, demand had grown for products such as food jars and headsets as people spent more time at home. The century-old budget retailer, which does the bulk of its business in Sweden and Norway, said sales from comparable outlets were down 11% in March from a year earlier, measured in local currencies. Its shares were down 5.7% at 78.95 Swedish crowns by 1244 GMT, having bounced in recent days from an 11-year low of 60.8 crowns set on March 23. But Chief Executive Lotta Lyra told Reuters the company, which sells a range of products from cleaning supplies to home electronics, saw clear evidence of people working from home, cooking and having the children around more than usual. “It’s pretty clear the home is gaining in importance,” she said in an interview. “We see a
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