Oslo, 29 September 2023 - With reference to the announcement of 21 December 2022 where the Board of Directors of the Company (the “Board”) concluded its strategic review process of XXL’s operations in Austria and decided that the Company shall exit the Austrian market during 2023. XXL ASA (“XXL” or the “Company”) is today giving an update regarding this process. In addition to the already announced closure of five stores, the E-commerce operation as well as the central warehouse facility, XXL has now, against a termination fee, signed exit agreements with respect to the last three stores in Austria, Mariahilferstrasse, Wiener Neustadt and Klagenfurt. These three stores constituted around EUR 9 million of the remaining lease obligations. The three stores are scheduled to be closed during 2023. Consequently, XXL will have no operations and no material contractual obligations in Austria after year end 2023.
For further queries, please contact:
Investor Relations
Tolle O. R. Grøterud
Tel: +47 902 72 959
E-mail: ir@xxlasa.com
Press contact
Jan Christian Thommesen
Phone: + 47 918 21 387
Email: presse@xxl.no
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.