Home / Knowledge / News / Apparel/Garments / Continued growth under challenging conditions, IC Companys
Continued growth under challenging conditions, IC Companys
11
May '11
The Board of Directors and the Executive Board of IC Companys A/S have considered and approved the interim financial report for the period 1 July 2010 – 31 March 2011.

Q3 2010/11 has been marked by a positive development where 10 out of 11 Group brands reported growth. The brands InWear, Part Two, By Malene Birger, Saint Tropez and Designers Remix have all reported double-digit growth rates.

Group geographic markets All Group geographic markets reported growth for Q3 2010/11. The segments Sweden, Norway, Central Europe as well as Rest of the World reported double-digit growth rates.

After having experienced setbacks over an extended period, the segment Denmark reported growth once again even though this growth rate did not attained the same level as reported by other Scandinavian markets. In both Sweden and Norway the consumers have a notably more positive outlook than consumers in Denmark. Furthermore, improved sales currencies have helped boost growth in Norway and Sweden.

Wholesale segment Total wholesale revenue for Q3 2010/11 amounted to DKK 748 million (DKK 669 million) corresponding to an increase of 12%. Pre-order revenue increased by 10% while in-season sales rose by 21%. Franchise revenue rose by 16% compared to last fi nancial year.

Wholesale revenue for Q3 2010/11 amounted to DKK 155 million (DKK 151 million) corresponding to an increase of 2% and a profi t margin of 20.7% (22.6%). The reduced profi t margin is attributable to a signifi cant pressure on the Group's gross margin as a consequence of rising sourcing costs and a more fi erce competition in the wholesale market.

During Q3 2010/11 the Group opened 4 new franchise stores and closed down 6 stores. In total this results in a net infl ux of 100 square metres.

The Group thereby offers services for 156 franchise stores with a total store area of 24,000 square metres.

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

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

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

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