AUSTRIA: Wolford Q3 profit down despite revenue rise
- Q3 pre-tax profit down 4.6% to EUR4.2m
- Revenue up 2.2% to EUR48.61m
- Company reaffirms guidance
Austrian hosiery brand Wolford has seen its third-quarter pre-tax profit decline despite Christmas trading pushing revenue higher.
Pre-tax profit stood at EUR4.2m (US$5.8m) during the third quarter ended January. Revenue, meanwhile, grew 2.2% to EUR48.6m thanks to a "satisfactory" Christmas.
The company said it is in a phase of "sustainable change". The strategic refocusing plan presented in December is being consistently implemented to return the business to profitability as quickly as possible.
During the first nine months of the year, earnings before tax slumped 66% to EUR1.3m, while revenues slipped 0.6% to EUR123.4m.
In order to gain market share, the company is expected to expand its product range even more over the forecast period. In 2012, the company strengthened its ready-to-wear women’s outerwear niche and w...
2012 saw the revival of the sophisticated look with tunics, skirts and flares in pastel and bright colours. This new trend made female consumers supplement their outfits, leading women’s outerwear sal...
By 2012, consumers had access to a wider range of premium hosiery products and, at the same time, relatively higher disposable incomes. They consequently bought fewer but higher quality hosiery items ...
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