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MQ reports a strong fourth quarter

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Sales rose significantly and earnings improved further. MQ continues to capture market shares and the positive trend strengthened. MQ’s customer offering is becoming increasingly stronger and the commercial impact is clear.

Fourth quarter (June 2015–August 2015)

  • Net sales amounted to SEK 421 million (381), up 10.5 percent. Sales in comparable stores/online sales rose 11.2 percent (the market’s like-for-like sales rose 3.5 percent according to the Swedish Retail Institute Index).
  • The gross margin was 53.3 percent (54.9).
  • Operating profit was SEK 47 million (35), equal to an operating margin of 11.2 percent (9.1).
  • Profit after tax was SEK 36 million (26), equal to SEK 1.02 (0.74) per share after dilution.
  • Cash flow from operating activities was SEK 22 million (34).

12-month period (September 2014–August 2015)

  • Net sales amounted to SEK 1,557 million (1,520), up 2.4 percent. Sales in comparable stores/online sales rose 3.3 percent (the market’s like-for-like sales declined 0.4 percent according to the Swedish Retail Institute Index).
  • The gross margin was 55.8 percent (56.2).
  • Operating profit was SEK 158 million (132), equal to an operating margin of 10.2 percent (8.7).
  • Profit after tax was SEK 120 million (96), equal to SEK 3.42 (2.77) per share after dilution.
  • Cash flow from operating activities totalled SEK 137 million (152).
  • The Board proposes a dividend of SEK 1.75 (1.36) per share, corresponding to 51 percent of the year’s profit after tax.

Events during the fourth quarter

  • The external brand Hope was launched in 17 stores.
  • Additional launches of external brands on MQ Shop Online: Rains, Saint Tropez, Stylein, Esprit Casual, Björn Borg Sport, Röhnisch, New Era Dam and Sätila.

Events after the end of the reporting period

  • MQ’s first flagship store in Norway opened in Grensen, Oslo on 10 September.
  • The external brand Mountain Works Men were launched in stores and on MQ Shop Online. The external brands Franklin & Marshall as well as Didriksons Men were launched on MQ Shop Online.
  • MQ was nominated the Fashion Chain of the Year 2015 and also the eCommerce/omni Channel of the Year at the Swedish Fashion Gala (Habit).
  • Inger West took office as the new Marketing Director on 7 September and Fredrika Erlandson as new Range and Purchasing Director on 1 October.

For further information, please contact:
Christina Ståhl, President and CEO: Tel: +46 (0)31 388 80 10
Tony Siberg, Deputy CEO and CFO: Tel: +46 (0)31 388 84 01

MQ is Sweden’s largest retailer of fashion brands. Through a select mix of proprietary and external brands, MQ offers men’s and women’s clothes with a high fashion content in attractive stores. The store chain currently comprises 120 stores and the aim is to establish MQ as the leading retailer of fashion brands in the Nordic region. The MQ share has been listed on NASDAQ Stockholm since 18 June 2010. For more information, please visit our website at www.mq.se.

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