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: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Wendell Rodricks
Wendell Rodricks

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search