AUSTRIA: Lingerie Maker Wolford Posts FY Sales Slip
Austrian lingerie producer Wolford AG on Thursday posted a fall in its fourth quarter and full year sales.
The company said annual sales slipped 6.4 per cent to 128.8 million euros from the year-ago period due to a weak economic environment and shaky consumer confidence, while fourth quarter sales fell 5.5 per cent to 31.8 million euros.
Wolford said around 30 per cent of the sales falls are due to the closure of unprofitable stores, while exchange-rate fluctuations accounted for another third of the decrease.
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