(Filed Under Financial and General Interest News). The sales decline at the Rigby & Peller (formerly Intimacy) stores in the U.S. approached 30% in 2016 according to parent company Van de Velde.
The Belgium-based firm reported a “decrease in retail turnover in the U.S. on a comparable basis at constant exchange rates by 20.2% (after closures of loss-making stores: -29.9% and after exchange rates: -29.7%).”
The number of Rigby & Peller stores in the U.S. peaked at near 20 some years ago under the Intimacy name. The count gradually shrank to 14 as of the fall of 2015, and then to 10 as of September, 2016, where the number remains today. The name was changed to Rigby & Peller (Van de Velde had acquired a majority stake in that brand in 2011) in the fall of 2015.
Sales at Van de Velde as a whole slipped slightly for the year while net income plunged 18.1%. The company reported a profit of € 33.6 million (about $35.6 million at today’s exchange rates) on sales of € 206.6 (about $219 million) in 2016, compared to a profit of € 41.0 on sales of € 209.0 in 2015.
Van de Velde owns the PrimaDonna, Marie Jo and Andres Sarda lingerie and swim brands as well as retail chains in Europe. — NM
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