Home / Knowledge / News / Apparel/Garments / Strong performance on a weak market, MQ
Strong performance on a weak market, MQ
28
Jun '11
MQ, one of Sweden's leading fashion brand retail chains, announced interim report, a strong performance on a weak market.

Third quarter (March 2011-May 2011)

• Net sales amounted to SEK 347 million (319), up 8.8 percent. Like-for-like sales rose 3.5 percent. (The Swedish Retail Institute Index was down 4.1 percent).
• Gross margin was 62.5 percent (65.7).
• Operating profit totalled SEK 32 million (39), including redundancy payments of 8 million, corresponding to an operating margin of 9.1 percent (12.1). Excluding redundancy payments, operating profit amounted to SEK 40 million, corresponding to an operating margin 11.5 percent
• Profit after tax amounted to SEK 23 million (20) including redundancy payments of SEK 8 million, corresponding to SEK 0.66 (0.88) per share after dilution. Excluding redundancy payments, profit after tax totalled SEK 31 million, corresponding to SEK 0.90 per share after dilution
• Cash flow from operating activities was SEK 38 million (16)

Nine-month period (September 2010-May 2011)

• Net sales amounted to SEK 1,129 million (1,085), up 4.0 percent. Like-for-like sales dipped 0.8 percent. (The Swedish Retail Institute Index was down 3.2 percent)
• Gross margin amounted to 58.0 percent (59.8)
• Operating profit amounted to SEK 100 million (121), corresponding to an operating margin of 8.9 percent (11.1).
• Profit after tax amounted to SEK 66 million (64), corresponding to SEK 1.87 (2.85) per share after dilution.
• Cash flow from operating activities was SEK 107 million (125)

Events during the third quarter

• Johan Elfner stepped down from his position as CEO of MQ. The company's CFO and Deputy CEO, Tony Siberg will act as interim CEO until a new CEO is appointed.
• A new store opened in Åkersberga, outside Stockholm.
• Cooperation with the Frankenstein advertising agency commenced.

Events after the end of the reporting period

• No significant events occurred after the end of the reporting period.

MQ is one of Sweden's leading fashion brand retail chains. Through a select mix of proprietary and external brands, MQ offers men's and women's collections with a high fashion content in attractive stores. The company currently has a network of 112 stores and its goal is to be the leading fashion brand retail chain in the Nordic region.

MQ


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search