Home / Knowledge / News / Apparel/Garments / Sales to dip at Swedish fashion retailer MQ in Q1FY'13
Sales to dip at Swedish fashion retailer MQ in Q1FY'13
03
Dec '12
Total sales for the first quarter at MQ, one of Sweden’s leading retailers of fashion brands are expected to reach MSEK 364, a decrease of 4.0 percent compared to the corresponding period last year, while like-for-like sales decreased with 6.6 percent.

The preliminary operating profit is estimated to between MSEK 20 and MSEK 24. Further cost-savings of about MSEK 15 have been identified. The proposed dividend remains.

After six consecutive quarters where MQ has outperformed the market, and with increased market shares, the first quarter (September-November 2012) was weaker than expected. MQ’s sales during the first quarter are expected to reach MSEK 364 (380), a decrease of 4.0 attributable to a weak range of products in the first fall delivery.

MQ has during the quarter increased its marketing activities according to plan, with wider reach and increased intensity to partly drive sales in a persistently tough market but also strengthen the brand with the launch of a new communication platform.

The weaker sales, together with increased investments in media activities, affect the operating profit (EBIT), which is estimated to be between MSEK 20 and MSEK 24, compared to MSEK 42 for the corresponding period last year. Inventory is well balanced as a large part of the early fall products have been sold.

In addition to the previously communicated saving measures of about MSEK 30 annually, the company has identified further savings of about MSEK 15 annually, which will be gradually enforced as of December. The savings will reach full effect during the current fiscal year.

The Board’s proposed dividend of SEK 0.87 (1.10) per share remains.

MQ’s interim report for the first quarter of the fiscal year (September-November 2012) will be published on December 20th 2012, as previously communicated.

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 119 stores and the aim is to establish MQ as the leading retailer of fashion brands in the Nordic region.

MQ

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra
Huemn

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
April 2017

April 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