BELGIUM: Van de Velde H1 wholesale turnover to top 8%
- H1 wholesale turnover to top 8%
- Rigby & Peller strong like-for-like growth
- Intimacy like-for-like fall continues
Lingerie business Van de Velde has forecast wholesale turnover to rise by more than 8% in its first-half.
The increase, the company said, is due to the successful launch of its PrimaDonna Swim range and slight growth in lingerie.
"Follow-up orders in May and June will determine what wholesale turnover is precisely achieved," it said.
On an annual basis, however, the increase will be lower because swimwear will only be delivered during the first half of the year.
In the UK, Van de Velde said its Rigby & Peller brand has experienced strong like-for-like growth compared with the previous year, and on the European continent like-for-like growth in its Dutch shops are just as strong.
The company said its German shops have experienced even stronger like-for-like growth than the UK.
No upturn, however, has been observed at its Intimacy brand, with the like-for-like fall continuing in the first quarter.
"As already stated, the impact in the carrying value of the intangible assets with regard to Intimacy (total of US$42.8m or EUR31.4m) will be examined after the first six months of the year. Based on the results of the first few months, there is a reasonable probability of an impairment," the company said.
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Belgian lingerie business Van de Velde remains upbeat in its outlook, despite reporting a 37.7% decline in annual net profit, primarily due to impairment charges at its Intimacy brand....
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