Home / Knowledge / News / Apparel/Garments / H1 EBITDA skyrockets at fashion retailer Charles Vogele
H1 EBITDA skyrockets at fashion retailer Charles Vogele
20
Aug '14
Swiss fashion retailer, Charles Vögele Group succeeded in bringing the negative sales trend to a halt in its existing floor space in the first half of 2014, while EBITDA skyrocketed in the same period.

Gross sales, after adjusting for changes in exchange rates and floor space or on a like-for-like basis grew 1% in the January to June 2014 period compared with the first half of 2013.

Operating earnings before depreciation and amortization (EBITDA) totaled CHF 14 million compared with CHF 5 million for the first half of 2013.

In the period under review, Charles Vögele was able to cut net loss by CHF 9 million to reach a net loss of CHF 12 million.

Charles Vogele said sales growth was recorded throughout all its regions during the first quarter, while in the second quarter, with cooler and rainy weather, sales was slightly gloomier.

Coupled with ongoing efforts to streamline the store network, it was able to reduce total floor space by an average of 5% compared with the first half of 2013.

Charles Vogele said it was able to hike its gross sales from its existing floor space, across almost all regions.

Gross sales in Germany, adjusted for changes in exchange rates and floor space grew 1.9%, of which 1.6% came from Benelux region and 1.9% from CEE region. Sales in Switzerland, adjusted for changes in floor space, fell slightly by 0.4%.

Charles Vogele has by end of July 2014, completely withdrawn from markets of Poland and the Czech Republic and closed 22 stores in those countries.

Charles Vogele said it is prioritizing implementation of core projects, focusing on product improvements, retail space and merchandise management.

At the same time, it added, intensive work is being carried out to optimize its range. The aim is to fine-tune collections by focusing on two specific style directions, which will ensure a clear and explicit customer orientation.

In its outlook for the rest of the year, Charles Vogele will mainly focus on continued implementation of current turnaround measures.

The primary aim for 2014 is halt the downward sales trend and post breakeven results, it informed.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Giorgio Mantovani
Corman S.p.A

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

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

Yes No

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

Yes No

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


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



X