Half-year turnover of Van de Velde declines 3.9 percent

Van de Velde has announced through a statement that after 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 brick & mortar stores, which has resulted in a decrease of the number of shop visitors, particularly in the first quarter.

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For the first half of the year, the above situation, the company added, has resulted in reported turnover decrease from 115.3 million euros (135.7 million dollars) to 110.8 million euros (130.4 million dollars), representing a decline of 3.9 percent. At constant exchange rate, Van de Velde said, the reported turnover decreased 2.1 percent.

Comparable turnover for the period decreased from 116.9 million euros (137.5 million dollars) to 114.1 million euros (134.2 million dollars), a decline of 2.4 percent. At constant exchange rate the reported turnover decreased 0.6 percent. In wholesale, comparable turnover at constant exchange rate decreased by 1.4 percent but increased 4.3 percent in retail.

Picture:Marie Jo lingerie blog