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Odd Molly International AB (publ)
Stockholm, Sweden, October 19, 2012
Sales in line with expectations - previous decline in orders has slowed
January 1 - September 30, 2012
July 1 - September 30, 2012
Events during the quarter
Comment from the CEO
Sales in the third quarter were in line with the announced order value after the fall collection and large part of our winter merchandise were delivered to stores. We are receiving constructive and positive feedback from our retailers, and I would add that our own sales channels, including Odd Molly’s web shop, are developing well. The weaker earnings are mainly the result of lower volumes, which we are not pleased with. The entire organization is clearly focused on creating future growth.
We took several steps during the quarter to achieve our goals in terms of customer value, newsworthiness and sales. The biggest focus during the quarter was on the many parts that affect the ultimate success of a collection: everything from price and product mix to packaging and the composition of the collection. We are working every day to create a distinctively designed, customer-focused collection, obviously based on Odd Molly’s unique style.
As I said when we announced our order figures for the coming spring and summer collection in September, we are proud of the collection and the fact that we have succeeded in slowing down an accelerating order decline. The final outcome is weak, but clearly positive: higher average orders and lower average prices show that our category and pricing strategy is working. A lot of work has been done, but even more lies ahead.
To achieve newfound success we have put a clearly focused organization in place with experienced colleagues as well as new talents. I am very pleased to announce that we have recently hired Mads Kelö to take responsibility for driving the Group's international sales. He worked most recently with IC Company and will begin at Odd Molly in November, when he will be joined by Henrik Fredin, from Gant, who at the same time takes over as CFO. I feel that together we form a very strong, experienced and results-oriented management team.
We look forward to the future with renewed energy. Next on the agenda is to surpass ourselves with the next collection.
Anna Attemark, CEO
Please find the full report in the attached PDF file.Download pdf