BERLIN — Closing out its fiscal year with a decline in sales and earnings, Escada said it sees a "year of transition" ahead and is forecasting stable or a low, one-digit increase in sales as well as positive aftertax profits.
The Germany fashion house's preliminary figures for the year ended Oct. 31 were in line with its most recent projections in September. Group sales slid 1.2 percent to 686.8 million euros, or $923.1 million, with Escada brand sales down 5.6 percent to 461.8 million euros, or $620.7 million. Adjusted for currency effects, group sales were up 1 percent, and Escada brand sales were down 2.4 percent. All dollar figures are converted from the euro at the average rate for the period.
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