Home / Knowledge / News / Apparel/Garments / Van de Velde H1 turnover up 10.3% to €106.9m
Van de Velde H1 turnover up 10.3% to €106.9m
07
Jul '14
Consolidated turnover at Van de Velde in the first half of 2014 rose by 10.3% (from €97.0m to €106.9m). 
 
On a like-for-like basis (including comparable deliveries), consolidated turnover is up 9.1%. This turnover growth consists of the following components: 
 -13.8% growth in wholesale turnover. This growth is driven by the very successful launch of PrimaDonna Swim and the strong growth in lingerie. Follow-up orders in May and June were also higher than during the same period in the previous year. As a result, actual growth is much higher than the minimum growth of 8.0% stated earlier. Pre-orders for the second half of the year are higher than the same period in the previous year. The rise is of course lower than in the first half of the year because of the absence of the swimwear factor. 
 
-A fall in retail turnover at Intimacy by 22.7% (14.1% on a like-for-like basis) in local currency. Due to the weakening of the US dollar against the euro the fall in euro is a little larger. The impact in the carrying value of the intangible assets with regard to Intimacy will be examined during the half-year closing. Based on the results of the first half of the year, there is a reasonable probability of an important impairment. This impairment is a non-cash charge and accordingly has no impact on the cash flow. 
 
-In continental Europe retail turnover at Rigby & Peller rose by 12.6%, especially due to strong like-for-like growth in Germany (18.9%). Retail’s footprint is increasingly concentrated on Northern Europe (openings in Denmark, franchising in the Netherlands, closures in France and Spain). 
 
-Retail turnover at Rigby & Peller in the United Kingdom rose by 9.1% (3.9% on a like-for-like basis) in local currency. Due to the strengthening of the UK pound against the euro the rise in euros is higher. 
 
-Retail turnover at the former Donker stores contributes €2.4m (compared with €1.3m for April-June 2013). Turnover at the former Donker stores rose by 13.7% on a like-for-like basis. 
 
Van de Velde expects the tax rate on an annual basis to rise by an estimated 2 to 3% in 2014 as a consequence of administrative restructuring. 

Van de Velde

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search