Clothing chain Charles Voegele Holding on Tuesday posted a 65.8 per cent plunge in first half net profit as it was hit by inventory costs and currency losses.

The fashion retailer said in a statement its profit fell sharply to 13 million Swiss francs ($8.5m) with its operating profit sliding 21.7 per cent year-on-year to 47 million Swiss francs.

Voegele, which operates stores in Switzerland, Germany, Austria, Belgium and the Netherlands, added sales slipped 5.6 per cent to 751 million Swiss francs and it expects consumer confidence to remain weak during the second half.