Intimates group Van de Velde benefit drops 11% in first half
The Belgian intimates group ended the first half of its fiscal year with a sales drop of 2%, 112.8 million euros (124.8 million dollars), compared to 110.9 million euros (122.7 million dollars) last year.
Van de Velde continues the low. The Belgian intimates group ended the first half of its fiscal year, ended June 30th) with a drop of its benefit of 11% compared to the same period last year. Earnings of the group were 13.4 million euros (14.8 million dollars).
The company, owner of brands like PrimaDona and the Spanish Andrés Sardá, registered in the first half of its fiscal a revenue of 108.5 million euros (120.1 million dollars), 2% less than the first half of 2018. The ebitda of the group was 29.4 million euros (32.5 million dollars), compared to the 26.5 million euros (29.3 million dollars) one year earlier.
Sales drop of Van de Velde are because of the descent in its mono-brand channel, that lowered 6.7%. However, its multibrand channel remained stable. By regions, Europe’s revenue dropped 5.6% while in United States was down 9.1%.
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