(Filed Under Financial and General Interest News). Van de Velde sales fell by 1.8% in fiscal 2018, decreasing from 209.0 million euros (about $239 million at current exchange rates) in fiscal 2017 to 205.2 million euros (about $234 million).
Comparable sales fell from 205.6 million euros to 203.0 million euros. The company noted that “The full results for the fiscal year 2018 will be announced and commented on 27 February 2019.”
Belgium-based Van de Velde 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.
In the first half of the year the firm’s sales fell 3.9% , while net profit plunged 25% as the company spent heavily on information and communications technology and “eCommerce functionalities.” It had stated at the half that it expected those trends to extend to the full year. — NM
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