Q2 2023 Boozt AB Earnings Call Transcript
Welcome to the Boozt Q2 2023 Report Presentation. (Operator Instructions) Now I will hand the conference over to the speakers CEO, Hermann Haraldsson; and CFO, Sandra Gadd. Please go ahead.
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Thank you. Good morning, everyone, and welcome to our Q2 webcast 2023. Let's just jump right into it and go to our first key highlights. Basically, our Nordic Department Store continued to demonstrate its strength in the quarter as we grew 8.6% in a market that was quite depressed. This is, to a large degree, driven by the migration from single category to multi-category customers, and this is exactly what we are aiming for. Even though the market was characterized by very high promotional activity due to peers offsetting to a high inventory level we actually managed to increase our gross margin due to a very well-balanced inventory mix supported by campaign buys. The higher gross margin compensated for an increased inflationary pressure enabling us
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