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MQ's own brands in the ladies' collection continue to grow weakly, and the clothing chain posted worse-than-expected earnings in the fourth quarter. The stock falls.
MQ has announced an operating profit of SEK 36 million for the fourth quarter of 2017/2018. But for the fourth quarter of 2018/2019, the clothing company is forecasting an operating profit of 12 million SEK, MQ announced in a press release.
Immediately after the press release, which was sent to. At 17 hours, the stock fell sharply to almost 10%. At 5:15 pm, the share was down about 5%.
"Sales in the first two months did not develop as expected in a very difficult market, while November showed a positive trend," the press release said.
During the quarter, MQ's own brands in the women's collection continued to grow weakly, the company added, adding that increased sales efforts had made a positive contribution and that the latest collections were appreciated by customers.
Even in August, MQ reported that sales would be worse than expected.
The report is presented in accordance with the plan of 18 December.
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