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A challenging quarter for the MQ Group

Sales during the fourth quarter did not develop in line with expectations. The unusually hot summer had an adverse impact on sales, leading to more items being sold at sale prices and a delayed start to the autumn season. The whole year has been a challenge in terms of decreased customer traffic and sales, primarily in the MQ chain, leading to lower profitability for the Group. The Joy chain continues to see increased footfall, and sales are on a par with last year. The Group’s new CEO Ingvar Larsson started on 20 August. We now put a weak quarter behind us and turn our sights to the future.

Invitation to presentation of MQ Holding’s year-end report 2017/2018

MQ Holding will announce its year-end report for the financial year September 2017- August 2018 on Thursday, October 4 at 07.15 CET. A presentation of the report will be held on the same day in MQ’s store at Drottninggatan 19-21, Stockholm, at 08.30 CET for analysts, investors and media. Ingvar Larsson, President and CEO and Tony Siberg, EVP and CFO will present and comment on the report and the latest developments in MQ Holding.The presentation will be held in Swedish. Please register to Christine Abrahamsson, email ir@mq.se or by telephone+46 (0)31 388 80 23. The presentation

Continued stable development during the quarter

The MQ Group has improved its operating profit and cash flow, in part due to a significantly higher gross margin as a result of fewer items in clearance sales. Drive and a high level of activity in line with our established plans are behind the improvement. The MQ retail chain is performing strongly while the Joy chain was adversely affected during the quarter by the dispute at the Port of Gothenburg in the summer. Efforts to develop two strong chain concepts while at the same time benefiting from synergies are being intensified.  Joy has been included in the consolidated statements

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