2 minutes
Calida group sales down 1.9% in the first six months of 2017, profits up
In the first six months of the 2017 fiscal year, the revenue of Swiss apparel group Calida lost 1.9% compared to the same period last year, reaching CHF175.6 million (€158.3 million), though the results by brand varied greatly.
On the positive side, lingerie label Aubade continues to upgrade and modernise, growing 6.3% in the period with sales worth €26.8 million. Also on the upswing was board sport brand Oxbow, whose revenue of €13.7 million was equivalent to a 6.4% increase, with the overhaul of its range and brand image already bearing fruit.
These positive performances were not enough to compensate for the poor form of Calida (-1.5%), Lafuma Mobilier (-2.3%) and especially for the downturn suffered by the Millet Mountain Group (Millet, Eider, Lafuma Outdoor), whose sales lost 9% in the first six months, down to €37.1 million. Calida ascribed these problems to "further losses in retail footfall," and emphasised how the negative impact caused by the strong Swiss franc has also had a long-term effect.
Instead, the Calida group's consolidated EBIT grew by 18.3%, to CHF5.8 million, while net income leapt by 70.8% to CHF5.9 million, "due to exceptionally positive fiscal effects and the valuation of foreign currency positions."
As for the second half of the year, Calida is expecting revenue to remain stable, and EBIT to be consistent with last year. "Complementary investment may be necessary to expand e-commerce and digital operations, and may influence the Calida group's profitability in the short and medium term," added the group. It is worth remembering that last March Calida bought German company Reich Online Services, an e-tail specialist.
Copyright © 2024 FashionNetwork.com All rights reserved.
