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Interim report

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First quarter (September-November 2010)

  • Net sales amounted to SEK 368 million (355), up 3.8 percent. Sales in comparable stores fell 1.0 percent.
  • Gross margin was SEK 64.5 percent (64.7).
  • Operating profit totalled SEK 54 million (46), representing an operating margin of 14.8 percent (13.1).
  • Profit after tax amounted to SEK 38 million (19), or SEK 1.08 SEK (0.87) per share after dilution.
  • Cash flow from operating activities totalled SEK 23 million (21).

Events during the first quarter 

  • Launch in Norway, with the first store in central Oslo – considerable publicity, and the venture is progressing as planned.
  • Three new stores in Sweden – Bromma, Växjö and an outlet store at Kungens Kurva.
  • Launch of MQ’s e-trade unit as a supplement to the chain’s 110 street stores.
  • Recruitment of a design manager for the newly created position, effective 1 February 2011. The executive management team was strengthened with the inclusion of the Market Manager and Sales Manager during the quarter.

Events after the end of the reporting period  

  • MQ’s second store in Norway opened in Drammen on 9 December 2010

 

 For more information, please contact:

Johan Elfner, CEO: 031-38 88 015

Tony Siberg, EVP and CFO: 031-38 88 401

MQ is one of Sweden's leading branded fashion wear chains. Through a mixture of proprietary and external brands, MQ offers men and women high fashion clothing in attractive stores. The store chain currently has 110 stores and the objective is to establish MQ as the leading brand chain in the Nordic region. The MQ share is listed on NASDAQ OMX Stockholm since June 18th, 2010. For more information, see www.mq.se.

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