Increased sales and strengthened operating profit
The MQ Group continues to develop in the right direction. Sales increased in both physical stores and online shopping. The rapid upgrade of Joy’s stores continues, with a strong sales trend as a result. The gross margin was strengthened and operating profit was improved. The work to reposition the Group to become a prominent omni-channel player in the Swedish market is continuing.
Joy is included in the consolidated statements starting in May 2016.
Third quarter (March 2017–May 2017)
- Net sales amounted to SEK 424 million (379), up 11.9 percent. Like-for-like sales increased 1.9 percent (the market’s comparable stores declined -1.1 percent according to the Swedish Retail Institute Index).
- The gross margin was 61.6 percent (60.9).
- Operating profit was SEK 36 million (32), corresponding to an operating margin of 8.4 percent (8.5).
- Profit after tax for the year amounted to SEK 27 million (24), corresponding to SEK 0.77 (0.68) per share after dilution.
- Cash flow from operating activities was SEK 4 million (8).
Nine-month period (September 2016–May 2017)
- Net sales amounted to SEK 1,354 million (1,194), an increase of 13.4 percent. Like-for-like sales declined -1.0 percent (according to the Swedish Retail Institute Index, the market’s comparable stores declined -1.9 percent).
- The gross margin was 58.2 percent (55.7).
- Operating profit was SEK 91 million (90), corresponding to an operating margin of 6.7 percent (7.5).
- Profit after tax for the year amounted to SEK 69 million (68), corresponding to SEK 1.98 (1.94) per share after dilution.
- Cash flow from operating activities was SEK 65 million (55).
For more information, please contact:
Christina Ståhl, President and CEO: +46 (0)31-388 80 10
Tony Siberg, Deputy CEO and CFO: +46 (0)31-388 84 01
This information is information that MQ Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:15 CET on 20th of June 2017.
MQ Holding AB owns and operates fashion stores under two business areas: MQ and JOY. MQ is Sweden’s largest retailer of fashion brands. Through a select mix of proprietary and external brands, MQ offers high-fashion menswear and womenswear in attractive stores. JOY targets fashion-conscious women at midlife who desire excellent quality, fit and comfort. The two business areas currently comprise a total of 173 stores as well as online sales. The MQ Holding share has been listed on Nasdaq OMX Stockholm since June 18th 2010. For more information, please visit our website at www.mq.se.