OVS continues to decline: shrinks its sales by 10% in first quarter
The Italian fashion distribution group closed the first three months of the year with a turnover of 317.5 million euros, compared to 353 million euros in the same period of the previous year.
OVS starts the year downwards. The Italian fashion chain, which is listed on the Milan stock exchange, has completed the first three months of the year with a turnover of 317.5 million euros, 10% less than in the same period of the previous year.
The company's gross operating profit (ebitda) also decreased during the period, registering a fall of 16.5% to 25.1 million euros, compared to 30.1 million euros in the previous year.
The company explained that the poor performance of the results is due to the weather, specifically by the delay of the start of the spring summer season. However, OVS has indicated that the results are in line with their expectations.
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