1) The document reports on the company's financial results for the first quarter of 2007, with net sales up 4.9% and operating profit up 10.8% compared to the same period the previous year. 2) Sales growth was driven by new store openings, currency effects, and like-for-like growth in existing stores. The company saw improved gross margins and stable costs. 3) Going forward, the company aims to maintain gross margin improvements, continue its store expansion program, refurbish existing stores, and potentially evaluate opening in a fifth market.

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2. First quarter
September 1 to November 30, 2007
Best Q1 so far
Christian W. Jansson, President & CEO
Håkan Westin, CFO
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4. Disclaimer
These materials may not be copied, published,
distributed or transmitted to third parties.
These materials may contain forward-looking
statements. If so, such statements are based on our
current expectations and are subject to risks and
uncertainties that could negatively affect our
business. Please read our earnings report and our
most recent annual report for a better understanding
of these risks and uncertainties.
These materials do not constitute or form part of any
offer or invitation to sell or issue, or any solicitation
of any offer to purchase or subscribe for, any
securities, nor shall part, or all, of these materials or
their distribution form the basis of, or be relied on in
connection with, any contract or investment decision
in relation to any securities. These materials and the
information contained herein are not an offer of
securities for sale in the United States and are not
for publication or distribution to persons in the
United States.
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6. Number of stores
279 stores end November 133 43
2007
34 new stores under
contract
85
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8. Financial highlights Q1
September 1 – November 30, 2007
Net sales MSEK 1,247 (1,189), an increase of 4.9 percent.
Operating profit MSEK 206 (186), an increase of 10.8
percent.
Gross margin 63.9 (62.2) percent and operating margin
16.5 (15.6) percent.
Profit after taxes MSEK 138 (123), equivalent SEK 1.84
(1.64) per share.
Cash flow from operating activities MSEK 196 (209).
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10. Income statement Q1
MSEK Sept-Nov 07/08 06/07
Net sales 1 247 1 189
Cost of goods sold -450 -449
Gross profit 797 740
Selling expenses -558 -513
Administrative expenses -33 -37
Operating profit 206 186
Financial income 3 2
Financial expense -18 -16
Profit before tax 191 172
Tax expense -53 -49
Net profit 138 123
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12. Sales Q1
MSEK %
Net sales Q1 2006/2007 1 189
Currency effect +2.1
New net stores +1.2
Like For Like growth +1.6
Net sales Q1 2007/2008 1 247 +4.9
Stable growth
Growth from new stores will increase
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14. Sales breakdown, Q1
Growth
MSEK 07/08 07/06 SEK Loc.cur.
Sweden 701 683 2.6% 2.6%
Norway 359 333 7.8% 0.8%
Finland 137 130 5.4% 4.7%
Poland 51 43 18.6% 13.2%
Total 1 247 1 189 4.9%
Poland
Finland 4% (4%)
11%
(11%)
Sweden
Norway 56%
29% (57%)
(28%)
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16. Profitability drivers Q1
(excl one-offs) 2007/2008
Sales 105%
Gross profit 108%
Costs 107%
Operating income 111%
r
Best Q1 so fa
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18. Key conclusions
Stable sales development
Further improved gross margin
Strong operating margin
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20. Future approach
Maintain gross margin
Continue store expansion
program
Continue refurbishment of
existing stores
Evaluate a fifth market
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22. We don’t believe in selling a lifestyle.
You have one already.
We don’t believe in expensive
collections for an exclusive few.
We believe in fashion that suits you.
We don’t believe in eternal youth,
however we believe that people
mature, grow wiser and
even more beautiful.
Take it as a compliment.
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