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Charles Vögele's H1 income up despite shrinking clothing markets
30 Aug '05
4 min read
ses had a positive effect on EBITDA, which improved 31.8% from CHF -8.5 million to CHF -5.8 million.
Reinhard: "Strategic steps are working"
"Our strategy, which we have been implementing consistently for three years, is now also having effect on results," said the CEO of Charles Vögele Group, Daniel Reinhard. "Our customers obviously really like our new collections, the further improvement in the quality of our offering and the great ambience in our stores – not just in Switzerland but, as the results show, in our other markets too."
As part of the company's expansion plans, the twelve Belgian stores acquired from Pecotex on 1 August will be reopened under the Charles Vögele brand during the second half. This is a first step in the strategy of strengthening our presence in Belgium, which we first announced in the spring. The announced entry into the Slovenian market has also come to fruition: the first store opens for business in Slovenska Bistrica on 22 September.
European fashion retailer Charles Vögele Holding AG is a leading independent European fashion retailer with 787 branches in Switzerland, Germany, Austria, Belgium, and The Netherlands. In the first half of 2005 it employed 7 201 people. Charles Vögele Holding AG's shares are quoted on the SWX Swiss Exchange (ticker: VCH; Bloomberg VCH SW; Reuters VCHZ.S).
Clothing retailer Vögele is the store for fashion that has already asserted and established itself in the society, and which offers an excellent price-performance-ratio. At Vögele, women, men and children can find high quality fashion at attractive prices. Production, Administration and sales follow strict quality guidelines and ethic principles.
Reinhard: "Strategic steps are working"
"Our strategy, which we have been implementing consistently for three years, is now also having effect on results," said the CEO of Charles Vögele Group, Daniel Reinhard. "Our customers obviously really like our new collections, the further improvement in the quality of our offering and the great ambience in our stores – not just in Switzerland but, as the results show, in our other markets too."
As part of the company's expansion plans, the twelve Belgian stores acquired from Pecotex on 1 August will be reopened under the Charles Vögele brand during the second half. This is a first step in the strategy of strengthening our presence in Belgium, which we first announced in the spring. The announced entry into the Slovenian market has also come to fruition: the first store opens for business in Slovenska Bistrica on 22 September.
European fashion retailer Charles Vögele Holding AG is a leading independent European fashion retailer with 787 branches in Switzerland, Germany, Austria, Belgium, and The Netherlands. In the first half of 2005 it employed 7 201 people. Charles Vögele Holding AG's shares are quoted on the SWX Swiss Exchange (ticker: VCH; Bloomberg VCH SW; Reuters VCHZ.S).
Clothing retailer Vögele is the store for fashion that has already asserted and established itself in the society, and which offers an excellent price-performance-ratio. At Vögele, women, men and children can find high quality fashion at attractive prices. Production, Administration and sales follow strict quality guidelines and ethic principles.
Charles Vögele Group
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