MQ Holdings result for the first quarter lower than expected – the quarter ended with positive development in November
The weak development that we saw in the fourth quarter of 2017/2018 has continued in the start of the first quarter of 2018/2019. Sales for the first two months have not developed as expected in a very challenging market, while November has shown a positive trend.
The sales of MQs own brands in the women's collection has continued to be weak in the beginning of the quarter, but have developed positively at the end of the quarter as the latest collections have been well received by the customers. Increased intensity in sales efforts has also contributed positively.
MQ Holding AB estimates that the operating profit for the first quarter 2018/2019 will be approximately SEK 12 million, compared to SEK 36 million for the first quarter 2017/2018.
All figures are preliminary and will be determined in MQ Holdings interim report for the first quarter, September - November 2018. The interim report will be published as planned on December 18 at 07.15 CET, followed by a telephone conference at 09.00 CET the same day.
This information is information that MQ Holding AB (publ.) 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 below, on November 29, 2018 at 17.00 CET.
For further information, please contact:
Invar Larsson, President and CEO: +46 31 388 80 70
Claes-Göran Sylvén, Chairman of the Board: +46 708 54 99 64
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 175 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