Leading Austrian hosiery and lingerie maker and retailer Wolford on Thursday posted a five per cent slide in group turnover in the first nine months of 2001/2002 after it shut numerous stores.

Wolford said group sales had fallen to 105.9 million euros ($92.41m) from 110.9 million euros after it closed some of its under-performing stores in Austria and the Far East but did not give any profit figures for the period.

In a statement, the company said its domestic sales plunged 23 per cent in the period, while sales in the US market dipped four per cent but added sales in the US had risen eight per cent last month.