A challenging quarter for the MQ Group
Fourth quarter (June 2018 - August 2018)
- Net sales amounted to SEK 445 million (467), down 4.8 per cent. Like-for-like sales declined 6.2 per cent (according to HUI Research like-for-like sales for the market as a whole declined by 3.9 per cent).
- The gross margin was 47.5 per cent (54.0).
- Operating profit/loss was SEK -8 million (33), which corresponds to an operating margin of -1.7 per cent (7.0).
- Profit/loss after tax for the period amounted to SEK -3 million (24), which equates to SEK -0.09 (0.69) per share after dilution.
- Cash flow from operating activities was SEK 31 million (43).
- Net sales amounted to SEK 1,735 million (1,821), down 4.7 per cent. Like-for-like sales declined 6.0 per cent (according to HUI Research like-for-like sales for the market as a whole declined by 2.6 per cent).
- The gross margin was 55.6 per cent (57.1).
- Operating profit was SEK 51 million (124), which corresponds to an operating margin of 2.9 per cent (6.8).
- Profit after tax for the period amounted to SEK 41 million (94), which equates to SEK 1.17 (2.67) per share after dilution.
- Cash flow from operating activities was SEK 78 million (108).
- The Board proposes that no dividend be paid for the 2017/2018 financial year in order to create scope to strengthen primarily the company's digital development (previous year: SEK 1.75 per share).
- Ingvar Larsson took up his post as the new President and CEO of the MQ Group in August.
- MQ's store in Umeå moved from MVG to Utopia, with a new launch and a new store concept.
- The Tiger Jeans brand (women) was launched during the fourth quarter.
- The Blue Billie (women) and Enter brands were launched on MQ Shop Online.
- MQ has remodelled its store in Stenungsund in line with a new store concept.
- As planned, MQ has closed its store on Tullgatan, Malmö.
- MQ and Joy have opened new stores in Kristianstad at C4 Shopping. Joy accordingly closed its store in Kristianstad City.
- MQ and Joy have opened new stores in Mölndal Galleria. Joy accordingly closed its store in Mölndal.
- Joy has been nominated in two categories - Omnichannel of the Year and Store Retailer of the Year - in the Habit Fashion Show 2018.
For further information, please contact:
Ingvar Larsson, President and CEO: +46 (0)31 388 80 70
Tony Siberg, Deputy CEO and CFO: Tel: +46 31 388 84 01