FILA ACTIVEWEAR WINS POINTS IN U.S. AND EUROPE
NEW YORK — Fila is scoring gains with its activewear.
Reporting financial results for 1994, Fila Holding SpA, based in Biella, Italy, said that its activewear sales in the U.S. grew 17 percent in the fourth quarter to $17.9 million from $15.3 million.
The apparel increase, along with an 8.6 percent gain in footwear sales to $51.9 million, put Fila’s overall U.S. sales at $69.8 million for the quarter ended Dec. 31, up 10.6 percent over sales of $63.1 million in the prior-year period.
The company’s apparel sales climbed 21 percent in Italy and doubled in the rest of Europe during the fourth quarter. Apparel sales also doubled in the rest of the world outside the U.S.
Fila’s total U.S. revenue in 1994 surged 24 percent to $369 million. No breakout of apparel was available.
As of Dec. 31, 1994, worldwide future orders were up 40 percent, driven by a 48 percent increase in the U.S. Orders for Fila apparel here were up 47 percent, while orders for footwear were up 48 percent.
Future orders for the rest of the world advanced 28 percent, including a 35 percent increase for Fila apparel and a 22 percent increase for footwear.
Despite sales gains, though, overall net income for the quarter totaled $5.1 million (8.1 billion lire), down 10.5 percent from a year ago. Sales for the period advanced 29.1 percent to $133.9 million (220.2 billion lire).
Fila’s 1994 net income was $42.8 million (68 million lire), or $1.69 per share, a 57 percent increase over a year ago. Sales in the year gained 39 percent to $616.5 million (1 trillion lire).
Enrico Frachey, chief executive officer, said in a statement: “Achieving our goal of 1 trillion lire in revenue one year early represents the first significant step in our plan to make Fila one of the leaders in the worldwide activewear and sportswear industry.” He added that Fila’s apparel sales trend also “indicates the end of recession in Europe.”
— Fairchild News Service