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Reuters
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Jul 9, 2009
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Van de Velde's first half sales up 7.8 pct

By
Reuters
Published
Jul 9, 2009

BRUSSELS, July 9 (Reuters) - Sales at Belgian luxury lingerie retailer Van de Velde (VELD.BR) rose 7.8 percent to 72.9 million euros ($102 million) in the first half of 2009, the company reported on Thursday 9 July.

Van de Velde
Greta, Marie Jo Haute Lingerie from Van de Velde

The result was just ahead of the average forecast of 71.6 million euros given in a Reuters poll of three analysts.

Turnover was boosted by the acquisition of lingerie brand Andres Sarda, which the group acquired in June 2008.

Excluding Andres Sarda sales first-half turnover rose 1 percent to 68.2 million euros, Van de Velde said.

The group said in April that it expected turnover in the second half of 2009 to be similar to that of the first half, but did not comment on outlook on Thursday 9 July.

Van de Velde, which exports across the European Union, to the United States and southeast Asia, reported sales of 129.3 million euro ($180 million) in 2008, excluding Andres Sarda. ($1=.7184 euros) (Reporting by Antonia van de Velde; Editing by Greg Mahlich)

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