Fashion house ESCADA H1 revenues up 2.2%

28 Jun '05

9 min read

Consolidated revenues for the second quarter, at EUR 152.5 million, were down 3.4 percent from the EUR 157.9 million of the equivalent quarter last year (currency adjusted: –2.0 percent). But in looking at this figure one must allow for shifts in sales to the first quarter especially for the ESCADA brand, when more deliveries took place and revenues grew 8.1 percent as a consequence.

ESCADA brand revenues for the second quarter were down 0.9 percent against the comparable quarter, to EUR 98.2 million. PRIMERA Group revenues, at EUR 54.3 million, were 5.1 percent below the level from the comparable quarter. There were no other revenues during the quarter.

Geographically, consolidated revenues receded variably in the Company's three core regions: –0.8 percent in Europe, –13.8 percent in North America, and –1.7 percent in Asia.

Earnings performance
During the second quarter of 2004-05, the Group's gross profit margin could be increased to 59.3 percent (Q2 2003-04: 55.3 percent). This increase is due to a further improvement of full price sell through in the Group's own retail stores on the one hand and to the further optimization of the sourcing mix at ESCADA and the customer portfolio (particularly at PRIMERA) on the other. Better profitability at the Group's own retail stores is one of the core strategic objectives for the current fiscal year.

For the first half of 2004-05 operating expenses (personnel expenses plus other operaic objectives for the current fiscal year.

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