SECOND-QUARTER REPORT, MAY 1, 2007 – OCTOBER 31, 2007

Weaker sales than planned

Six months (May 2007 – October 2007)

• Net sales rose to SEK 761.0 M (646.6), up 18% compared with the preceding year. Sales in the Group’s comparable stores decreased by 2% (increase: 3).

• Profit after tax amounted to SEK 58.5 M (65.6). Earnings per share before dilution amounted to SEK 2.02 (2.34).

• The Group established 10 new stores (16).

Second quarter (August 2007 – October 2007)

• Net sales rose to SEK 375.4 M (346.9), up 8% from the preceding year. Sales in the Group’s comparable stores decreased by 5% (increase: 6).

• Profit after tax amounted to SEK 22.6 M (34.3). Earnings per share before dilution amounted to SEK 0.77 (1.23).

• The Group established 5 new stores (13).