Fashion house ESCADA H1 revenues up 2.2%

28 Jun '05

9 min read

Germany based an international fashion house The ESCADA Group announced its six months fiscal 2004-05.

Highlights of the first half of 2004-05
- EBITDA up 34 percent in first six months
- Profit after taxes more than doubles
- Gross profit margin improves, inventories down further
- Q2 business performance meets expectations
- Successful EUR 200 million bond issue
- Outlook for the fiscal year unchanged

Management's report for the ESCADA Group
Revenue performance
The ESCADA Group's performance in the second quarter (February through April 2005), which is usually weaker because of the normal seasonal course of ESCADA's business, was largely consistent with expectations. Business conditions for women's luxury fashions remained slack in the most important markets, and consumers showed little inclination to spend.

ESCADA Group revenues for the first half of 2004-05 were EUR 312.6 million (vs. EUR 306.0 million) – a 2.2 percent gain that is consistent with expectations. Currency adjusted sales growth was 4.0 percent.

ESCADA brand revenues for the first half were gratifying: up 4.4 percent to EUR 208.1 million (vs. EUR 199.3 million), currency adjusted 7.2 percent. The PRIMERA Group generated revenues of EUR 104.1 million in the first half, a gain of 0.2 percent against the equivalent period last year (EUR 103.9 million). The “Others” item includes revenues of EUR 0.4 million; the prior year's 2.8 million still reflected revenues from the Group's stake in Badgley Mischka (B.E.M.) in the United States, which was sold at the end of last fiscal year.

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