Odd Molly International AB (publ)
Stockholm, Sweden, October 21, 2015Increased growth and enhanced profitability
January 1 – September 30, 2015
· Net sales amounted to SEK 269.3 million (222.4), an increase of 21 percent.
· The gross profit margin was 54.5 percent (54.2).
· Operating profit amounted to SEK 15.2 million (5.5).
· Net profit amounted to SEK 12.3 million (3.6).
· Earnings per share amounted to SEK 2.13 (0.62).
July 1 – September 30. 2015
· Net sales amounted to SEK 112.1 million (88.4), an increase of 27 percent.
· The gross profit margin was 54.2 percent (52.7).
· Operating profit amounted to SEK 11.9 million (8.7).
· Net profit amounted to SEK 9.6 million (6.8).
· Earnings per share amounted to SEK 1.82 (1.18).
Events during and after the quarter
· During the quarter Odd Molly opened its own store in Frölunda Torg.
· In October Odd Molly opened its own store in Kamppi, in Helsinki, Finland.
· The first Odd Molly store in Prague, Czech Republic, opened in October. The store is franchise operated.
Comment from the CEO
Odd Molly continues to deliver increased growth and improved profitability. The third quarter saw the same positive trend as before – we are growing own sales from both established and new stores at the same time that we are seeing stable sales through our external retailers, where the strongest development comes from bigger stores and e-commerce. Expenses and inventory are at reasonable levels and reflect our attention to growth with a larger share of our own stores.
As I have said before, we feel that everyone who sells Odd Molly’s products benefits when we open Odd Molly stores where our entire collection is on display in a distinctive retail setting. Sales rise and the brand grows stronger. This doesn’t have to mean just our own stores. On the contrary, we see big opportunities by being flexible in terms of our presence in various markets. On the other hand, it is important to have the right guidelines for presenting the brand, so that the experience and feeling are right in both the analog and digital worlds. Recently we opened a store in Prague that will test a franchise concept we hope to learn from before expanding.
If I were to choose a single reason for Odd Molly’s turnaround in recent years it would have to be our customer focus. It provides the framework for all the decisions we make. This is especially true of how we put together our collections as well as our distribution strategy. We have a good balance in the collection with a steady flow of new merchandise, and our new product groups are popular additions, even though at this point they represent relatively small volumes. The latest addition is the Footwear product group, which has been well received by customers, strengthening our self-confidence as we continue to develop our offering.
Keep your eyes open for the next step in our first Odd Project, where we in a concrete way celebrate girls who dare to go their own way. At the end of October the first dream realized will be made public (www.oddmolly.com/oddproject). In the meanwhile we are working with the ambition to create more outstanding collections and sell them through the right mix of distribution channels around the world. For full report, please see attached PDF file.
Anna Attemark, CEO
For full report, please see attached PDF file.For further information, please contact:
Anna Attemark, CEO, phone: +46-8-522 28 502
Henrik Fredin, CFO, phone: +46-8-522 28 514
About Odd Molly
Odd Molly is a Swedish company that designs, markets and sells distinctive fashion. The company’s products are mainly sold through agents to retailers in around thirty countries around the world, which facilitates expansion with limited capital requirements. Odd Molly is responsible for selling to external retailers in the Scandinavian market and also manages 12 of its own physical stores and its own web shop. The Odd Molly share is traded as of June 21, 2010 on Nasdaq OMX Stockholm.
Scheduled information dates
The year-end report for January-December 2015 will be released on February 18, 2016.
The information in this press release has been published by Odd Molly International AB on October 21, 2015at 8.00 am CET in accordance with the Securities Market Act and/or the Financial Instruments Trading Act.
Odd Molly International AB
SE-111 27 STOCKHOLM
Phone: +46 8 522 28 500
Press photos can be downloaded from Odd Molly’s website at www.oddmolly.com under “press”. Odd Molly also produces a newsletter with reports on daily operations. To subscribe, go to www.oddmolly.com