Snowy weather does not necessarily mean chaos. Not for the sports industry, at least. There, a good winter, is worth millions.
Heavy snowfall down Southeast Norway created a lot of hassle for many, both at home and at work. An industry, however, that can cheer over the extra work that comes with snowfall, is the sports industry. For XXL, the difference between a good and a bad winter can be around 100 million kroners on its annual tax report, according to Finansavisen.
“On a general basis, cold and snow – preferably lots and lots of snow, attract crowds into sports shops. People buy a loy of equipment to enjoy themselves in winter,” says investor contact Tolle Grøterud in the sports chain.
Last winter was profitable to those who make a living by selling skis, ice skates and sleds. While XXL had an operating profit of over 100 million in 2016, which was not a particularly good winter, it ended with 34 million last year.
The sales reports for February are coming in the middle of the month, and that will be the index of how profitable the heavy snowfall had been.
“But XXL is not only in Eastern Norway, and we are not based only in Norway,” Grøterud reminds us, before adding that sales in Sweden and Finland are looking much better now in 2018, than it was in 2017.
© NTB Scanpix / Norway Today