Stefanel’s sales stable in first quarter
Stefanel has managed to stabilize its sales in the first quarter of 2015. The Italian group, which operates the brands Stefanel and High, has just published the consolidated results for its first quarter ending on March 31. It has reported a turnover of 44.1 million euros, a slight 1% decrease compared to the same period in 2014. It’s a sign of progress for management following 2014, which saw sales down by 7.7%.
Its second womenswear brand, High, which accounts for an entire quarter of the company’s turnover, saw sales decline by 1.4%, while Stefanel published a more flattering number: +0.8% on a comparable basis. The company closed several unprofitable locations last year.
Sales abroad, meanwhile, rose in the first quarter from 62% in early 2014 to 65% during its latest quarter.
However, while the company’s goal for 2015 was to reduce its losses, the first quarter contributed little. While it saw a small improvement, but nothing very consequential. Its Ebitda was still negative at -1 million euros (as compared to -1.3 million during the same period of 2014)
Its net income was also, as might be expected, in the red at -4.4 million euros (as compared to -4.6 during the same period in 2014).
€1 = $1.09/£0.71
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