Strong autumn sales and improved profitability for Lindex
Strong autumn sales and improved profitability for Lindex Lindex sales during the first quarter of the financial year were very satisfactory and the result improved faster than expected due to a successful action programme. During the period Lindex continued to increase its market share on clothing markets with comparatively weak growth. Work on the earlier presented action programme continued during the quarter with special focus on cash flow, inventory level, and gross profit. The action programme has also involved gradual adaptation of costs and purchase volumes to the changed market situation. The measures implemented have resulted in considerable gross marginal improvements causing a faster profit increase than earlier assumed. The pre-tax result of the first quarter is expected to amount to approximately SEK 100 million. A report of the result in full will be presented on 17 January 2002, in connection with the shareholders meeting of AB Lindex in Alingsås. Christmas trade at the same level as last year Sales during December developed well and are equal to last year's sales. The positive sales development was especially evident in the product line of ladies underwear. Information on Twilfit expected by 25 January Concerning the acquisition of Twilfit the Swedish Competition Authority has announced that a decision on a more detailed investigation or on not considering the acquisition will be taken on 25 January 2002 at the latest. For further information, contact: Peter Andersson, Director of Economy and Finance mobile phone +46(0)705-84 44 37 Jörgen Johansson, Managing Director mobile phone +46(0)705-94 21 22 Lindex is a store chain with stores in the Nordic countries and Germany. The product lines of the group are ladies clothing, ladies underwear, children's clothes and cosmetics. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/12/28/20011228BIT00440/bit0002.doc http://www.waymaker.net/bitonline/2001/12/28/20011228BIT00440/bit0002.pdf