MQ’s sales and earnings for the first quarter 2012/2013

MQ’s total sales for the first quarter are expected to reach MSEK 364, a
decrease of 4.0 percent compared to the corresponding period last year, while
like-for-like sales decreased with 6.6 percent. The preliminary operating profit
is estimated to between MSEK 20 and MSEK 24. Further cost-savings of about MSEK
15 have been identified. The proposed dividend remains.
After six consecutive quarters where MQ has outperformed the market, and with
increased market shares, the first quarter (September-November 2012) was weaker
than expected. MQ’s sales during the first quarter are expected to reach MSEK
364 (380), a decrease of 4.0 attributable to a weak range of products in the
first fall delivery.

MQ has during the quarter increased its marketing activities according to plan,
with wider reach and increased intensity to partly drive sales in a persistently
tough market but also strengthen the brand with the launch of a new
communication platform. The weaker sales, together with increased investments in
media activities, affect the operating profit (EBIT), which is estimated to be
between MSEK 20 and MSEK 24, compared to MSEK 42 for the corresponding period
last year. Inventory is well balanced as a large part of the early fall products
have been sold.

We are of course not satisfied with the outcome for the quarter where the range
of products in the early fall delivery resulted in weak sales in October. The
current assortment available in-store is now better, and sales for November have
stabilized. However, the loss in sales earlier during the quarter combined with
increased investments in marketing will result in lower earnings, comments Mats
Gärdsell, CEO of MQ.

In addition to the previously communicated saving measures of about MSEK 30
annually, the company has identified further savings of about MSEK 15 annually,
which will be gradually enforced as of December. The savings will reach full
effect during the current fiscal year.

The Board’s proposed dividend of SEK 0.87 (1.10) per share remains.

MQ’s interim report for the first quarter of the fiscal year (September-November
2012) will be published on December 20th 2012, as previously communicated.

For more information, please contact:

Mats Gärdsell, VD, MQ, Tfn: 031-388 80 00, 0702-77 74 94

The information is such that MQ is obligated to publish under the Swedish
Securities Market Act. The information was submitted for publishing on December
3, 2012 at 07:15 a.m.

MQ is one of Sweden’s leading retailers of fashion brands. Through a select mix
of proprietary and external brands, MQ offers men’s and women’s clothes with a
high fashion content in attractive stores. The store chain currently comprises
119 stores and the aim is to establish MQ as the leading retailer of fashion
brands in the Nordic region. The MQ share has been listed on NASDAQ OMX
Stockholm since 18 June 2010. For more information, please visit our website at
www.mq.se