PARIS — Declines in its own boutiques and in the hard-pressed German market held Wolford’s first-quarter sales 5 percent below year-ago levels.
This story first appeared in the August 8, 2002 issue of WWD. Subscribe Today.
Consolidated sales for the three months ended July 31 reached $25.3 million compared with sales of $26.7 million in the same period last year. Dollar figures are converted from the euro at current exchange rates.
The Bregenz, Austria-based luxury hosiery maker said in a statement that quarterly sales for its signature Wolford brand were down 3 percent over the last fiscal year.
The group noted that the first-quarter sales represent about 19 percent of its annual volume.
Geographically, the company’s volume in the European Union was up 84 percent in the period, it said. In Italy, sales were up 35 percent; the Netherlands, 33 percent; Spain, 20 percent; France, 4 percent, and the U.S., 3 percent.
However, declines were registered in the Far East, where sales dropped by 38 percent, and in Germany, where sales were down by 17 percent.
Wolford said its department store sales were up 8 percent in the quarter against the previous year, while volume from its own boutiques dipped 2 percent.