In order to concentrate on growth in Sweden, the decision was made to close the Norwegian operations. Concurrently, retail-clothing company Joy is now being integrated in the Group and digital activities are being intensified. The financially sluggish period is attributed to lower like-for-like sales, costs for the acquisition of Joy, remodelling of stores and more marketing communications. MQ is now taking vital steps to further develop the company. 

Joy is included in the consolidated statements starting May 2016.

• Net sales amounted to SEK 379 million (363), up 4.4 percent. Like-for-like sales declined 3.4 percent (according to the Swedish Retail Institute Index, the market's comparable stores grew 1.7 percent).
• Gross margin was 60.9 percent (60.1).
• Operating profit was SEK 32 million (47), corresponding to an operating margin of 8.5 percent (12.8).
• Profit after tax was SEK 24 million (36), corresponding to SEK 0.68 (1.01) per share after dilution.
• Cash flow from operating activities was SEK 8 million (46).

• Net sales amounted to SEK 1,194 million (1,137), an increase of 5.0 percent. Like-for-like sales increased 3.0 percent (according to the Swedish Retail Institute Index, the market's comparable stores grew 3.2 percent).
• Gross margin was 55.7 percent (56.7).
• Operating profit totalled SEK 90 million (111), corresponding to an operating margin of 7.5 percent (9.8).
• Profit after tax was SEK 68 million (84), corresponding to SEK 1.94 (2.39) per share after dilution.
• Cash flow from operating activities was 55 million (115).

• Acquisition of retail-clothing company Joy was completed on 2 May and Joy Shop AB has now joined the MQ Group.
• MQ Group's CEO Christina Ståhl assumes the additional role as President of Joy in conjunction with completion of the acquisition process.
• During the quarter, two new MQ stores opened in Vetlanda and Bollnäs.
• Femman in Gothenburg and MQ Outlet in Ullared have been remodelled, while Strömpilen in Umeå has been reestablished and recently opened in Gallerian Avion.
• New labels such as American Vintage, Butterfly Twist, Maidenform and Selected Femme were launched on MQ Shop Online during the third quarter. 

• The decision has been made to close MQ's Norwegian operations (four stores).
• To further reinforce our digital activities, the head of Omnichannel will also be in charge of the company's marketing communications. The department will subsequently assume total responsibility for promoting integrated communication and optimised media presence, featuring mq.se as the hub of all communication.

For further information, please contact:
Christina Ståhl, President and CEO: Tel: +46 31 388 80 10
Tony Siberg, Deputy CEO and CFO: Tel: +46 31 388 84 01