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Swedish fashion brand Odd Molly's Q1 FY21 revenue grows to SEK 73.2 mn
11 May 21 1 min read
Odd Molly International, a Swedish designer and seller of fashion and other lifestyle products, reported 9 per cent revenue growth to SEK 73.2 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to SEK 67.0 million in the same period previous fiscal. The company’s operating profit was SEK 3.0 million (Q1 FY20: SEK 5.9 million).
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Revenues from the company’s fashion business for Q1 FY21 was SEK 57.0 million (SEK 64.5 million).
“After a period of intense activity within the company where our fashion and real estate business developed side by side, we will take the step fully to divide the two businesses into different legal entities to create the best possible conditions for further development. The fashion business has under them over the past two years has undergone extensive restructuring work with significant cost savings while making investments in digital sales channels,” Jennie Högstedt Björk, CEO at Odd Molly, said in a press release.
Gross profit margin for the three-month period stood at 59.7 per cent (52.3 per cent), while operating profit was SEK 3.0 million (loss: SEK 5.9 million). Odd Molly’s loss after tax for Q1 FY21 reduced to SEK 0.3 million (SEK 7.3 million).
Fibre2Fashion News Desk (JL)
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