ACCESS Newswire
25 Nov 2021, 13:49 GMT+10
STOCKHOLM, SWEDEN / ACCESSWIRE / November 25, 2021 /
STRAX sales holding up, at the same time margin has come under pressure as a consequence of Covid-19 impact on the industry
Significant events after the end of the period
'Our sales have held up well and grown by 6.7% year-over-year (YoY). However, we continue to be affected by the Covid-19 pandemic and consequential industry dynamics on both the supply and demand sides, negatively impacting our contribution profit margin. On a more positive note, we have not experienced margin erosion on product level, and we expect that these challenging macro factors will start to normalize in 2022.'
Gudmundur Palmason, CEO
For further information please contact:
Gudmundur Palmason
CEO, STRAX AB, +46 8 545 017 50
About STRAX
STRAX is a global leader in accessories that empower mobile lifestyles. Our portfolio of branded accessories covers all major mobile accessory categories: Protection, Power, Connectivity, as well as Personal Audio. Our new Health & Wellness category offers branded Personal Protection products. Our distribution business reaches a broad customer base, through 70 000 brick and mortar stores around the globe, as well as through online marketplaces and direct-to-consumers.
Wholly owned brands include Urbanista, Clckr, Richmond & Finch, Planet Buddies, xqisit, AVO+, Dóttir and grell, and licensed brands include adidas, Bugatti, Diesel, Superdry and WeSC. Our distribution business also services over 40 other major mobile accessory brands.
Founded as a trading company in 1995, STRAX has since expanded worldwide and evolved into a global brand and distribution business. Today we have over 200 employees in 13 countries. STRAX is listed on the Nasdaq Stockholm stock exchange.
This information is information that STRAX is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-11-25 08:55 CET.
Attachments
Interim report no. 3 for financial year 2021
SOURCE: STRAX
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