The Wolford Group is on the mend. After returning to profit during the second half of the fiscal year ended April 30, 2010, during the first quarter ended July 31, 2010, the Austrian intimate apparel manufacturer reported a 9.2 percent sales increase
The Wolford Group is on the mend. After returning to profit during the second half of the fiscal year ended April 30, 2010, during the first quarter ended July 31, 2010, the Austrian intimate apparel manufacturer reported a 9.2 percent sales increase; to 29.8 million Euros from 27.3 million Euros; equivalent to approximately $40 million and $37 million, respectively, at the current exchange rate.
Holger Dahmen, C.E.O of Wolford, attributed this success to measures the company has taken in recent years to ensure its continued financial stability. “We registered increased demand in all distribution channels and in almost all regions during the reporting period. Earnings indicators improved even more impressively, demonstrating that our cost reduction and efficiency-enhancement measures implemented at an early stage have had a sustainable impact,” he said. “In recent years we have created the pre-requisites required to ensure the long-term success of the company. Rigorous inventory management and the reduction of liabilities enabled us to once again improve our asset and capital structure in the first quarter of the new fiscal year.”
Geographically, the Group cited a 46.1 percent sales increase in Asia/Oceania; the highest-performing region. Other high-performing regions included Central and Eastern Europe, with a 38.8 percent increase; the United States, with a 38.7 percent increase in group currency and a 27.8 percent increase in local currency; Spain, with a 28.7 percent increase; and Britain, with a 18.7 percent increase in group currency, and a 15.5 percent increase in local currency. The only regions that posted declines were Austria (-4.7 percent); Switzerland (-1.2 percent); France (-5.6 percent); and the Netherlands (-17.1 percent).
With the company’s distribution partners, sales grew 4.9 percent, while proprietary stores posted a 13.9 percent increase. As a result of Wolford’s proprietary segment growth, the retail segment increased its share of total company sales to 49.2 percent; from 47.1 percent during last year’s first quarter.
|
|
Welcome to Post Your News, Please Contact: news@globalintimatewear.com
All Copyright Reserved, Please Indicate Info Originated from Globalintimatewear.com When Reprinting.
All Copyright Reserved, Please Indicate Info Originated from Globalintimatewear.com When Reprinting.
Comments
View More >>