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As the company expected, Escada ended the first quarter with a 9% downswing in sales (at constant exchange rates). Ebitda for the German label dropped from 21.6 to 6.8 million, but a recovery is expected thanks to the "Escada Excellence" project.
The company’s three-month billings for the Escada womenswear line and the Primiera business (Biba, Cavita and Laurèl brands), totaled Euro 142 million, a downturn of 11.8% at current exchange rates. The negative result for the period was Euro 3.9 million compared to profits of 6.9 million for the same period 2007.
Turnover for financial year 2006/2007 dropped to Euro 686 million (-1.3%), Ebitda was 68.2 million (-7.9%) with liabilities of 27.3 million (from a situation in which assets totaled 6.9 million).
Thanks to Escada Excellence, a reorganization program begun in June which focuses on strengthening brand identity and developing accessories, the Munich-based group has confirmed the previous forecast of a one-digit increase in revenues and gross operating margin. The net result should also return to being positive. |
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发表于 2016-9-22 17:30:31