Stefanel Q1 sales grows 13%

12 May '06

4 min read

The Board of Directors of clothing and airport retail company Stefanel SpA met today under the chairmanship of Giuseppe Stefanel and approved the consolidated results for the first three months of the current year, which are positive and in line with targets.

The consolidated financial statements for first quarter 2006 show a growth in sales of 12.7 percent. In detail, the Stefanel brand saw its sales increase by 9.0 percent, Interfashion by 31.5 percent, while Hallhuber's sales decline by 10.3 percent. As regards the businesses that use mainly retail distribution channels (Stefanel and Hallhuber), it is worth mentioning that their performance were affected by the poor weather in March, which delayed sales of the Spring collection to the public.

The figures for the Stefanel brand are not particularly comparable because of the changes that have taken place in the sales network, which have involved around 90 stores switching from the franchising channel to the retail channel, deferring part of the billings to the second quarter.

This positive trend in revenues has driven an important improvement in profitability with the apparel sector EBITDA reaching 10.1 million (+ 9.8 percent) with an incidence of 12.2 percent, while EBIT is confirmed at €7.2 million with an incidence of 8.7 percent. As regards the Stefanel Business, it is worth mentioning that the results have been influenced not only by lower deliveries of the Spring/Summer collection because ofthe changes that have taken place in the distribution network, but also by the start-up costs of the new affiliates operating in certain foreign markets that will take a number of seasons to come up to speed. Holding company costs total €0.7 million (2005 Q1: 0.6 million).

More Stefanel S.p.A. News... More Textiles News - Italy...