(Filed Under wholesale Lingerie News). Sales in the first half of 2018 slipped 3.9% at Van de Velde, the Belgium-based company that owns the Marie Jo, PrimaDonna and Andres Sarda wholesale brands, as well as international retail chains including the Rigby & Peller (formerly Intimacy) stores in the U.S.
The company did not break out results for its U.S. wholesale or retail operations, but noted for the company overall, “the successful launch of Marie Jo Swim and the growth in the new channels has not yet generated enough turnover to compensate the pressure on the traditional retail channels (brick and mortar stores). The first half year, more particularly the first quarter, the general retail environment has been characterized by a decrease of the number of shop visitors.”
The company continued, “For the first half of the year, this has resulted in the following turnover evolution:
• Reported turnover decreases from m€ 115.3 [about $134.2 million at today’s exchange rate] to m€ 110.8 (-3.9%) [about $129.0 million]. At constant exchange rate the reported turnover decreases with 2.1%.
• Comparable turnover decreases from m€ 116.9 to m€ 114.1 (-2.4%). At constant exchange rate the reported turnover decreases with 0.6%.
• Comparable turnover (constant exchange rate) decreases in wholesale by 1.4% and increases in retail by
“The full results for the first half of 2018 will be announced on Friday, 31 August 2018 after the stock exchange closes.”
Currently the number of Rigby & Peller stores in the U.S. stands at nine. — NM
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