Van de Velde reports modest revenue rise in 2017
Belgian group Van de Velde, a specialist in mid and high-end lingerie (owner of Marie Jo, PrimaDonna, Andres Sarda and Rigby & Peller), recorded a modest revenue increase for the 2017 fiscal year. The group published its preliminary results for the year on 11th January, reporting a revenue of €208.6 million.
This was equivalent to a very slight increase over 2016, only 1% on a yearly basis (+1.8% at constant exchange rates). Comparable sales were instead slightly below par, losing 0.7%, though the group explained the weakness was due to a negative exchange-rate impact in some countries.
In terms of distribution channels, Van de Velde's retail sales swung upwards, growing 4.2% in like-for-like terms, while revenue in the wholesale channel posted a 0.3% downturn.
The group will publish its full and definitive results on 27th February, and expects a weak revenue growth. Net income for 2017 is expected to decline, as was already forecast halfway through the year, owing to the group's recent investments in IT and the e-tail website, in its brands' market positioning, the value chain and in human resources.
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