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.