December 5, 2018 / 6:30 AM / 6 days ago

Swedish retailer Clas Ohlson to close stores in UK, Germany

Dec 5 (Reuters) - Swedish budget retailer Clas Ohlson said on Wednesday it would close its stores in the UK and Germany as it reported a 74 percent slump in its second-quarter operating profit.

The company’s quarterly operating profit fell to 33 million Swedish crowns ($3.65 million) from 125 million Swedish crowns a year earlier. ($1 = 9.0407 Swedish crowns) (Reporting by Marta Frackowiak in Gdyni; Editing by Amrutha Gayathri)

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