Home / Knowledge / News / Apparel/Garments / Leading retailer sees stable trend in a weak market
Leading retailer sees stable trend in a weak market
12
Oct '11
MQ Holding AB announced fourth quarter & full year-end report.

Fourth quarter (June 2011- August 2011)
• Net sales amounted to SEK 358 million (350), up 2.2 percent. Sales in comparable stores fell 2.8 percent. (The Swedish Retail Institute Index declined 5.2 percent).
• The gross margin was 54.8 percent (52.3).
• Operating profit amounted to SEK 21 million (24), corresponding to an operating margin of 5.8 percent (6.8).
• Profit after tax amounted to SEK 11 million (8), corresponding to SEK 0.32 (0.24) per share after dilution.
• Cash flow from operating activities was negative in the amount of SEK 4 million (neg: 17).

12-month period (September 2010-August 2011)
• Net sales amounted to SEK 1,487 million (1,435), up 3.6 percent. Sales in comparable stores fell 1.3 percent. (The Swedish Retail Institute Index declined 3.7 percent).
• The gross margin was 57.3 percent (57.9).
• Operating profit amounted to SEK 121 million (145), corresponding to an operating margin of 8.1 percent (10.1). The operating profit was impacted by severance pay for the former CEO and purchasing manager totalling SEK 8 million.
• Profit after tax amounted to SEK 77 million (72), corresponding to SEK 2.19 (2.86) per share after dilution.
• Cash flow from operating activities was SEK 103 million (108).
• The Board proposes a dividend of SEK 1.10 (1.02) per share, corresponding to 50 percent of the year's profit after tax.

Events during the fourth quarter
A new store was opened in Skien, Norway.
The new Dobber brand was launched.
An Extraordinary General Meeting was held, where the Meeting resolved to adopt the Board's proposal to establish a long-term, share-based incentive programme, 2011/2014.

Events after the end of the reporting period
• Mats Gärdsell assumed the position of CEO on 3 October.
• Peter Karlson assumed the position of Head of Logistics and Sourcing on 3 October. Peter is a Board member.
• A new store was opened in Erikslund, Västerås.
• The incentive programme above, which was approved during the fourth quarter, came into effect after the end of the closing date. Accordingly, it had no impact on the September - August 2010/2011 financial accounts.

MQ is one of Sweden's leading retailers of fashion brands. Through a select mix of proprietary and external brands, MQ offers men's and women's clothes with a high fashion content in attractive stores. The store chain currently comprises 113 stores and the aim is to establish MQ as the leading retailer of fashion brands in the Nordic region.

MQ Holding AB

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Apparel/Garments | On 24th May 2017

G-III Apparel enters into license agreement with PVH

G-III Apparel Group has entered into a multi-year license agreement...

Textiles | On 24th May 2017

Co-optex records Rs 315 cr sales in 2016-17

Tamil Nadu Handloom Weavers' Co-operative Society, Co-optex, has...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Paolo Ocleppo
Sandvik Hyperion

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward
Tony Ward

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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