Odd Molly International AB (publ)
PRESS RELEASE
Stockholm, Sweden, March 27, 2013The order value for Odd Molly’s fall and winter 2013 collection increased to about SEK 95 million, higher than the same collection in 2012, which amounted to SEK 87 million, and in line with the most recent spring and summer collection. The collection has been well received, but the buying climate around Europe is marred by continued cautiousness, which is affecting retailers’ budgets. Based on known order values and the company’s future growth aims, profit for the year is not expected to exceed the previous year.
Changes have been under way for some time at Odd Molly on many fronts with the goal of leveraging the company’s distinctive design to strengthen its position and demonstrating profitable growth.
“As part of the ongoing changes, we are taking several steps in the right direction, with the biggest focus so far being our collections and organization. I also see great potential to strengthen sales by improving the ways we work and how we are represented by agents in our network,” says Anna Attemark, CEO of Odd Molly.
The order value for fall/winter 2013 amounts to about SEK 95 million, or 9 percent higher than the order value of about SEK 87 million for the same collection in 2012. With exchange rates unchanged, the order value amounts to SEK 97 million. With a continued focus on growth and based on known order values, earnings for 2013 are not expected to exceed the previous year.
“What is positive is that Odd Molly´s loyal customers are increasing their average orders and that the balance in both the product mix and the pricing is now better. I am also happy to see that our own stores continue to develop positively,” says Anna Attemark. “At the same time we have our sights set on even larger orders, though we are aware that the weak economic climate in many of our markets is impacting the buying power of retailers right now.”
The order value includes orders from external retailers in 21 countries as well as orders from the company’s own stores in Stockholm and Copenhagen, three shop-in-shops and the company’s web shop. In 21 countries Odd Molly is represented by agents or distributors. Odd Molly’s six largest markets account for 82 percent (78) of the order value.
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After the order deadline, Odd Molly produces only enough of the upcoming collection to fill confirmed orders from external retailers and orders from Group-owned stores based on estimated sales volume, which reduces operational risk and tied-up capital. The remaining uncertainty regarding final sales is partly due to future exchange rates and partly to the solvency of individual retailers. These factors will continue to be closely monitored.For further information, please contact:
Anna Attemark, CEO, phone: +46 8 522 28 502 or mobile: +46 730 80 28 32
Odd Molly International AB is obligated to publish the information in this press release in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was provided for public release on March 27, 2013 at 8.00 a.m. CET.
About Odd Molly
Odd Molly is a Swedish company that designs, markets and sells fashion. Odd Molly products are sold by retailers in around 21 countries around the world. In addition, Odd Molly currently has four of its own physical stores in Stockholm, Kungsbacka, Barkarby and Copenhagen, 3 shop-in-shops and its own web shop. Odd Molly has 55 employees. The company’s historically profitable growth is the result of creative design, consistent branding and a business model that facilitates expansion with limited operational risk and tied-up capital. Odd Molly’s share is traded as of June 21, 2010 on NASDAQ OMX Stockholm.
Odd Molly International AB
Kornhamnstorg 6
SE-111 27 STOCKHOLM
Sweden
Phone +46 8 522 28 500
www.oddmolly.com
Press photos can be downloaded from Odd Molly’s website at www.oddmolly.com under “press.” Odd Molly also produces a newsletter, which reports on its day-to-day operations. To subscribe, visit www.oddmolly.com and click “sign up for our newsletter.”