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current news

Rigby & Peller Sales Drop 27.7% In First Half

(Filed Under wholesale Lingerie News). Sales at Rigby & Peller, formerly the Intimacy chain in the U.S., fell by 27.7% in the first half of 2016, in part because of the closure of “loss making stores.”

But the chain’s losses appear to be accelerating, with even the remaining 12 locations suffering a “Decrease of retail turnover in the U.S. by 17.7% on comparable basis, both in local currency as well as in Euro” according to parent company Van de Velde. Last July BODY reported the chain was operating in 15 locations after closing one shop earlier that spring. For the first half of 2015, Van de Velde, had reported “A fall in retail turnover at Intimacy by 4.7% (10.3% on a like-for-like basis) in local currency.”

Meanwhile, Van de Velde as a whole reported a modest increase in combined sales in the first six months of this year. The company owns the PrimaDonna, Marie Jo and Andres Sarda lingerie and swim brands, as well as retail lingerie chains in Europe.

According to the company release, “Consolidated turnover of Van de Velde in the first half of 2016 rose by 0.4% (from €113.4m to €113.8m). On a like-for-like basis (including comparable season deliveries) consolidated turnover is up 2.6%.” Despite the declines at Rigby & Peller, the company reported “Growth of wholesale turnover of 5.8%. The growth continues both in lingerie as well as swimwear. Also pre-orders for the second half of the year are higher than the same period in the previous year.” In addition, Van de Velde noted “Growth of retail turnover in Europe on comparable basis at constant exchange rates by 5.3%, especially driven by growth on comparable basis in the Netherlands (7.6%) and the UK (5.5%). Taking into account exchange rate differences, growth on comparable basis is 1.2%. Total retail turnover in Europe declined by 3.9% due to closure of loss making stores and conversion of owned into franchised store.”

Van de Velde noted that the sales results are not yet audited and that complete financial results for the first half will be announced Wednesday August 31st.

The company confirmed that a new international retail director, Yan Aerts, will join the company on September 1. Aerts “worked for more than 15 years for Mexx. He will be responsible for the further development of retail within Van de Velde, this in close collaboration with wholesale and all new channels." He will also join the executive committee of Van de Velde. — NM.

more wholesale Lingerie News >>

Published 07-08-2016 by Nick Monjo

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Rigby & Peller Sales Drop 27.7% In First Half
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Sales Fell 9.8% In 2015 At Rigby & Peller U.S.
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