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Charles Vogele has by end of July 2014, completely withdrawn from markets of Poland and the Czech Republic and closed 22 stores in those countries.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 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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