DENMARK: IC Companys eyes growth after H1 profit rises
- H1 operating profit up 6.3% to DKK187m
- Revenues edge down 0.6% to DKK1.775bn
- Gross margin flat at 57.1%
Fashion retail business IC Companys is forecasting higher earnings across all business segments after posting a 6% rise in first half operating profit.
Revenues were down slightly and gross margins flat as the Danish company’s Premium Outdoor segment (which consists of the Peak Performance brand) reported flat revenues of DKK565m (US$102m) on “satisfactory” wholesale performance, but “disappointing” retail growth.
That enabled IC Companys’ Premium Contemporary division (Tiger of Sweden and By Malene Birger) to become its leading segment, with revenues rising 12% to DKK592m on the back of solid wholesale growth.
However, Mid Market Contemporary revenues (the InWear, Matinique, Part Two and Soaked in Luxury brands) slumped 16% to DKK395m, thanks to declines in wholesale and the closure of selected stores.
The company said it expected its premium brands to maintain their positive development in the remainder of the year, but the Mid Market segment is forecast to continue its revenue decline.
Earnings are nonetheless expected to increase across all segments, with full-year operating profit predicted to hit DKK210-240m.
More than 160 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people one...
IC Companys A/S is currently implementing a transformation of the company in order to increase its profitability. This includes a new brand strategy, where brands in the mid-market and fast fashion se...
Danish fashion group IC Companys has entered into a deal to sell its mid-market division to DK Company....
Menswear in Denmark industry profile provides top-line qualitative and quantitative summary information including: market size (value 2008-12, and forecast to 2017). The profile also contains descript...
Apparel Retail in Denmark industry profile provides top-line qualitative and quantitative summary information including: market size (value 2008-12, and forecast to 2017). The profile also contains de...
Womenswear in Denmark industry profile provides top-line qualitative and quantitative summary information including: market size (value 2008-12, and forecast to 2017). The profile also contains descri...
After a relatively warm January, temperatures sank significantly during the first two weeks of February 2012. Likewise, autumn 2012 was colder than the average measured during the period 2001-2010, a ...
A healthy lifestyle is becoming increasingly trendy, making a growing number of Danes do sport as part of their everyday life. Doing sport, eating healthy food, buying ecological products and so forth...
- Garment firms set sights on Vietnam amid TPP talks
- Garment manufacturers eye Myanmar outsourcing
- Changes in China cotton policies cause uncertainty
- Responsive supply chain key to Gap's growth plans
- String traceability tool goes back to basics
- Wage strike by Cambodia garment workers falls flat
- H&M still committed to higher wages and Bangladesh
- Vietnam Q1 textile and garment exports surge 21.9%
- Alliance inspections more than 50% complete
- Adidas supplier factory strike enters second week
- Ethiopia – the emerging textile and clothing industry
- Antimicrobial fibres, fabrics and apparel: innovative weapons against infection
- Trade and trade policy: clothing imports, consumer expenditure and trends in five emerging markets: Brazil, Colombia, India, Kazakhstan and Peru, 4th quarter 2013
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects
- Jeans in Italy