Home / Knowledge / News / Apparel/Garments / MQ Holding Q2'FY14 net sales grow 5.3%
MQ Holding Q2'FY14 net sales grow 5.3%
24
Mar '14
MQ captures market shares and delivers strong earnings increase for second quarter.
Healthy sales in key months combined with Christmas shopping and sales, as well as early demand for spring fashion generated a strong second quarter for MQ. Earnings are significantly better than the year-earlier period. The positive trend from the first quarter continued and improved during the second quarter.
 
Second quarter (December 2013–February 2014)
-Net sales amounted to SEK 417 million (396), up 5.3 percent. Sales in comparable stores increased 3.4 percent (according to the Swedish Retail Institute Index, the market contracted by 0.4 percent.)
-The gross margin was 49.6 percent (49.5).
-Operating profit amounted to SEK 20 million (4), corresponding to an operating margin of 4.9 percent (0.9).
-Profit after tax amounted to SEK 14 million (1), corresponding to SEK 0.40 (0.02) per share after dilution.
-Cash flow from operating activities was SEK 49 million (34).
-First six months (September 2013 - February 2014)
-Net sales amounted to SEK 789 million (760), up 3.8 percent. Sales in comparable stores increased 1.6 percent (according to the Swedish Retail Institute Index, the market contracted by 1.3 percent.)
-The gross margin was 54.5 percent (54.8).
-Operating profit amounted to SEK 55 million (25), corresponding to an operating margin of 7.0 percent (3.2).
-Profit after tax amounted to SEK 39 million (14), corresponding to SEK 1.12 (0.40) per share after dilution.
-Cash flow from operating activities was 55 million (29).
 
Events during the second quarter
-No significant events occurred during the second quarter.
-Events after the end of the reporting period
 
MQ’s brand portfolio strengthened in March with three new brands; Sail Racing, Ilse Jacobsen and A-One. One store in Malmö closed; Malmö entré. 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 122 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

Textiles | On 6th Dec 2016

Garments, yarn export entitlement quota extended for 1 yr

Indian government has extended the export entitlement quota for...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Priyanka
Studio Priyanka Rajiv

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

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Pranav Mishra
Huemn

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

Sonam & Paras Modi
SVA

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search