Interim report January 1 – March 31, 2011

Odd Molly International AB (publ)

January 1 – March 31, 2011

· Net sales amounted to SEK 121.2 million (150.5)
· The gross profit margin rose to 56.5 percent (55.6)
· Operating profit amounted to SEK 23.5 million (31.8), corresponding to an operating margin of 19.4 percent (21.1)
· Net profit amounted to SEK 16.0 million (22.7). The net margin was 13.2 percent (15.1)
· Earnings per share amounted to SEK 2.79 (3.94)

Events after the report period

· In April Odd Molly reported an order value for fall/winter 2011 of SEK 140 million, compared with SEK 175 million for the same period of 2010.

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Comment from the CEO

The outcome for the first quarter was in line with expectations after the previously announced order figures for the spring. Sales amounted to SEK 121 million, compared to approximately SEK 150 million previous year. The large part of our spring merchandise was shipped and invoiced during the quarter, but compared with the same season last year a relatively bigger amount of the spring merchandise will be delivered in quarter two. In addition to sales in our own stores, the second quarter will include invoicing of the final summer merchandise and a pre-fall shipment in June, where the order value is SEK 16 million. Because of the seasonality of Odd Molly’s operations, sales fluctuate greatly during the year, while some expenses are less variable.

Despite higher purchasing prices, the gross profit margin was slightly stronger during the first quarter compared with last year, which is largely due to exchange rate effects. More stores and a stronger organization meant higher operating expenses than in 2010, which consequently affects earnings. The operating margin for the first quarter was 19.4 percent, compared with 21.1 percent for the same period last year.

Last week we summed up sales of the fall/winter 2011 collection with an order value of approximately SEK 140 million (175), which is about 20 percent lower than a year ago and 15 percent lower when adjusted for negative exchange rate effects. A generally weak clothing market in several of our key markets during the past season, combined with weaker sales momentum for Odd Molly’s previous fall collection, has made buyers more cautious and thus affected orders.

As we have previously mentioned, we have taken a number of measures to adjust the price mix, optimize our collections and strengthen sales efforts. During the summer Odd Molly plans to open a web shop to meet demand from many customers and display a representative product selection in an attractive environment. Further changes are being evaluated, with an emphasis on cost reviews and better product and sales control. The effects are expected to be felt gradually, but we are working intensely to strengthen our opportunities for profitable future growth.

Christina Tillman, President and CEO

Please find the full report in the attached pdf file.About Odd Molly
Odd Molly is a Swedish company that designs, markets and sells fashion. Odd Molly products are sold through around 1,300 retailers in around 40 countries around the world. In addition, Odd Molly currently has three concept stores in Stockholm, Los Angeles and Copenhagen as well as two outlets in Kungsbacka and Barkaby. Odd Molly has 56 employees. The company’s profitable growth is the result of creative design, consistent branding and a business model that facilitates expansion with limited capital requirements and minimal inventory risk. Odd Molly’s share is traded as of June 21, 2010 on NASDAQ OMX Stockholm.

Odd Molly International AB is obligated to publish the information in this interim report in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was provided for public release on April 14, 2011 at 1.00 pm CET.

Scheduled information dates
The Annual General Meeting will be held on April 14, 2011.
Interim report April-June 2011 will be released on August 19, 2011.
Order values for the first half of 2012 (spring/summer collections) will be announced on October 7, 2011.
Interim report July-September 2011 will be released on October 21, 2011.

For further information, please contact:
Christina Tillman, CEO of Odd Molly, phone: +46-8-522 28 502 or mobile: +46-733-10 60 00

Odd Molly International AB (Publ)
Kornhamnstorg 6
SE-111 27 STOCKHOLM, Sweden
Phone: +46 8 522 28 500 (

Press photos can be downloaded from Odd Molly’s website at under “press”. Odd Molly also produces a newsletter, which reports on its day-to-day operations. To subscribe, go to ( and click “sign up for our newsletter.”