Noa Noa in million kroner loss

Fashion brand with 168 stores is in the red for the third year

Customers are turning their back on  the fashion chain Noa Noa, which has showed red figures for the third year in a row.

The company suffered a 34 million kroner loss in 2013 compared to 25 million kroner the year before, Detailfolk reports.

The deficit is "unsatisfying" according to the management's review, which called 2013 "a challenging year, where the focus was on updating and Noa Noa's brand and design profile".

Revenue slipped to 455 million kroner in 2013 compared to 470 million in 2012.

The clothing brand Noa Noa was established in 1981. Today the company operates 168 stores throughout Europe.

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