NEW YORK -- Fila Holding SpA reported sales at its apparel division rose 49.1 percent in the first quarter, while total company sales advanced 43.3 percent and earnings soared 77.1 percent.

In the quarter ended March 31, the company, based in Biella, Italy, earned $12.4 million (20.9 billion lire) on sales of $150.4 million (11.8 billion lire). Dollar translations were provided by the company based on the March 31 exchange rate.

At the end of the quarter, worldwide orders for apparel and footwear for the back-to-school season were up 24.8 percent in U.S. dollar terms. U.S. orders were up 23.2 percent, and orders outside the U.S. increased 27.4 percent. Worldwide, footwear orders grew 38.5 percent, while apparel orders were up 7.5 percent.

Enrico Frachey, managing director and chief executive officer, said sales grew in all the major markets, including the U.S., Far East and Europe.

Apparel sales rose to $50.8 million (85.6 billion lire), while footwear sales jumped 40.5 percent to $70.9 million (119.5 billion lire).

U.S. sales, which were 61 percent of net sales, grew 44.6 percent, with apparel up 78.1 percent, and footwear, 38.2 percent. Net sales were up 18 percent in Italy, 27.9 percent in the rest of Europe, and 103.9 percent in the rest of the world, fueled by strong growth in Korea.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus