SWITZERLAND: Fashion Chain Voegele Hit By Spending Slowdown
Swiss fashion chain Charles Voegele Holding on Tuesday reported a 5.6 per cent year-on-year slide in first-half net sales to 751 million Swiss francs ($520m) amid a general slowdown in consumer spending. The company, which operates retail outlets in Switzerland, Germany, Austria, Belgium and the Netherlands, said that adjusted for store space and currency fluctuations, net sales were down 7.4 per cent from 2001.