BELGIUM: Van de Velde posts strong H1 profit growth
- Net profit grew by 39.3%
- Turnover rose to EUR83.4m
- North America buoyant
Lingerie maker Van de Velde has boosted profits 39.3% during the first half of the year, and predicted further turnover growth for the rest of the year.
A statement by the company said: "Organic growth in the first half of 2010 was 8.2% (excluding Intimacy). Given the low economic growth in Europe and the USA, Van de Velde is very satisfied with that development and thanks its customers and consumers for their trust.
"Every country worldwide posted growth. Growth in the USA and Canada was most impressive, but the European core markets also posted strong growth figures."
Turnover growth was mainly driven by a strong rise in volume. Exchange rates had a positive impact of a little over 1%.
The company said that turnover will continue to grow in the second half of 2010, albeit at a slightly slower pace than in the first half of the year. Management expects that year-on-year turnover growth (excluding Intimacy) to exceed 5%.
Help test our new apparel sourcing tool.
Belgian lingerie retailer Van de Velde saw its profits jump a third in 2010, but forecast higher production and marketing costs this year....
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Kohl's, L Brands
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022