Home / Knowledge / News / Apparel/Garments / Sales skyrocket at CDON Group in H1
Sales skyrocket at CDON Group in H1
18
Jul '12
CDON Group AB announced its financial results for the second quarter and first half of the year, the period 1 January – 30 June 2012.

Second Quarter

· Net sales up 38% year on year to SEK 952.1 (689.1) million and organic growth of 25%

· Gross profit of SEK 109.0 (126.4) million with a gross margin of 11.4%; when excluding non-recurring items of SEK -33,9 million the gross margin is 15.0%·

· Operating profit of SEK -43.5 (19.1) million and operating margin of -4.6%; when excluding non-recurring items of SEK -37.7 million the operating margin is -0.6%

· Net income of SEK -37.1 (10.4) million

· Basic earnings per share of SEK -0.54 (0.16)

Half Year

· Net sales up 51% year on year to SEK 1,906.4 (1,260.9) million and organic growth of 33%

· Gross profit of SEK 244.6 (236.3) million with a gross margin of 12.8%; when excluding non-recurring items of SEK -47.9 million the gross margin is 15.3%

· Operating profit of SEK -55.6 (39.2) million and operating margin of -2.9%; when excluding non-recurring items of SEK -51.7 million the operating margin is -0.2%

· Net income of SEK -50.1 (23.1) million

· Basic earnings per share of SEK -0.72 (0.35)

CEO’s statement Paul Fischbein, President and CEO of CDON Group commented: “The second quarter was another strong growth quarter for CDON Group with a sales increase of 38%. We continue to grow faster than both the traditional retail and online market, thereby strengthening our position in the e-commerce market.”

“During the second quarter, we worked intensively to consolidate CDON.com as the leading internet shopping mall in the Nordic region. Tretti.com’s assortment of white goods, household appliances and outdoor products were recently added to CDON.com, further strengthening our consumer offering. At the same time we are creating opportunities for other group companies to capitalize on CDON.com’s leading market position in the Nordics.”

“We performed one of our largest internal re-organisations ever in the period, as we moved the entire Nelly.com warehouse operations. This was a necessary measure that made a considerable impression on the Fashion segment’s results in the quarter, both through higher than expected moving costs but also through a decreased growth rate in the period.

“We have now recruited a new management for the Group's Fashion segment which, combined with our new and more efficient warehouse, makes us a well positioned as we again accelerate our marketing efforts. At the same time we will continue to fine-tune our internal processes.”

CDON Group AB


Must ReadView All

Courtesy: Philippine Information Agency

Apparel/Garments | On 29th Jul 2017

Philippines govt issues guidelines for garment firms

The Department of Trade & Industry-Board of Investments (DTI-BOI) and ...

Textiles | On 29th Jul 2017

Bangladesh govt takes 8 jute mills back from private firms

The Bangladesh government has taken 8 jute and textile mills back...

Textiles | On 29th Jul 2017

Textile machinery orders grow in second quarter: ACIMIT

ACIMIT, the Association of Italian Textile Machinery Manufacturers...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
61.1%
No
22.2%
Skip
16.7%

Total Votes: 18

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
33.3%
No
44.4%
Skip
22.2%

Total Votes: 18

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
5.6%
Skip
11.1%

Total Votes: 18

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
50.0%
No
11.1%
Skip
38.9%

Total Votes: 18


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X