Reference is made to XXL ASA’s (“XXL” or the “Company”) stock exchange announcement on 23 March 2020 regarding temporary layoffs. As a consequence of the significant decline in sales due to the COVID-19 situation, the Company resolved to give notice of temporary layoffs to around 1,000 store employees in Norway and 450 in Finland.
During April the sales situation normalized, as already communicated in the Q1 2020 report and results presentation, and XXL has gradually withdrawn the temporary layoffs. XXL has now decided to call back all the remaining layoffs in Norway with effect from 1 June 2020. In Finland all the remaining layoffs will be called back during June 2020.
“The COVID-19 situation is an extraordinary situation, however XXL has seen a positive sales trend since the initial phase of the outbreak in mid-March 2020. I am therefore very pleased to say that we are welcoming back all our employees that have been temporary laid off in Norway and Finland. The way our employees have handled the situation has been impressive and we are also grateful for the good dialogue with our employee representatives during the whole process,” says CEO in XXL ASA Pål Wibe.
For further queries, please contact:
Investor Relations
Tolle O. R. Grøterud
Investor Relations XXL ASA
Tel: +47 90 27 29 59
E-mail: ir@xxlasa.com
Press contact Norway:
Marte Ramuz Eriksen
Email: presse@xxl.no
Phone: + 47 952 21 425
Press contact Sweden and International
Anders Andrén
Email: press@xxl.se
Phone: +46 76-133 99 40
About XXL ASA XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden, Finland, Denmark and Austria. It is the largest among the major sports retailers in the Nordics. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL's concept is to have the largest stores with the best prices and the widest assortment of products, focusing on branded goods.