STOCKHOLM, Sweden, March 31, 2003 (PRIMEZONE) -- Lindex:
-Profit after financial items fell to SEK 20M (75). Operating profit amounted to SEK 19M (62). Investments in brand name and marketing activities as well as personnel costs and other operational costs reduced the profit. The company will strengthen its measures aimed at reducing costs.
- The gross margin for the second quarter fell to 51.9 per cent (52.9), but increased to 55.8 per cent for the first six months compared with 54.6 per cent in the previous year.
- Sales for the second quarter increased by 5.0 per cent (6.2) to SEK 1,330M (1,267). This was lower than anticipated and led to increased price reductions at the end of the quarter. Business area Lingerie continued to develop positively, especially in Germany.
- Lindex's sales in Germany grew strongly during the quarter and increased by 10.7 per cent (-13.1). Yet another store achieved break-even.
- Initial spring sales got off to a good start.
Telephone conference on March 31, At 3:30 p.m. today, March 31, a telephone conference will take place in Swedish with Lindex President, Jorgen Johansson, and Chief Financial Officer, Peter Andersson. Analysts and journalists are invited.
You can participate by telephoning +44 (0) 207 162 0179, quoting 'Lindex'. Please call at least ten minutes before the start of the conference. The presentation can also be followed visually via our website: http://investors.lindex.com
The Lindex Group comprises two retail chains: Lindex with 315 stores in the Nordic market and 33 stores in Germany, and Twilfit with 58 stores in Sweden of which 10 are operated as franchise stores. The Group's business areas are Ladies' Wear, Lingerie and Children's Clothing.
For further information, please contact:
Jorgen Johansson, President and CEO Tel: +46 322-777 02
Mobile: +46 705-94 21 22
Peter Andersson, Chief Financial Officer Tel: +46 322-778 50
Mobile: +46 705-84 44 37
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