In The First Half Of The Year, Apparel Retailer OVS Maintained Steady Growth Through Store Expansion.
Italy Volkswagen
Clothes & Accessories
The retailer OVS SpA (OVS.MI) announced this week that its Sempione Retail AG AG has invested in Swiss V V Gele Holding AG (Gele) to further expand its business area.
As of July 31st, OVS SpA medium term net sales rose 4.7% to 640 million 100 thousand euros, the same name.
brand
OVS and UPIM brand respectively recorded a 4.3% and 7.2% increase.
Group CEO Stefano Beraldo Beraldo revealed that the new 12 direct outlets were "very positive" and accelerated the establishment of stores through franchising during the period, with a majority of them.
Children's clothes
Shop.
By the end of the first half, the market share of the group in Italy's local market was 7.2%, which was 20 basis points and 50 basis points respectively higher than the end of 2015 and the same period last year.
Due to the extremely cold and rainy weather in May, the same store sales in the first half of the year turned a 1.8% decline in the 2015 fiscal year, which declined by 2.9%.
Weather also led to the sale in the second half of the year to mid September.
The medium term core profit EBITDA was 75 million 100 thousand euros, an increase of 10.7% over the same period last year of 67 million 700 thousand euros, and the EBITDA profit margin increased by 60 basis points to 11.7%.
Net profit also rose 26.9% to 30 million 800 thousand euros.
The continuous improvement of profitability is due to cost control and the improvement of supply chain and distribution efficiency. The group disclosed that it has moved the procurement to a country with lower cost, and has also achieved savings in electricity and store rental costs.
OVS SpA emphasized in the earnings report that the participation of Sempione Retail AG and the acquisition of Charles V Gele Gele Holding AG will not affect the strategic priority of Italy's local market.
The other two shareholders of Sempione Retail AG are Aspen Trust Services Ltd. Retails and Retails Investment SRL.
The paction amounted to 56 million Swiss francs, and OVS SpA's financial investment accounted for 14 million 100 thousand Swiss francs.
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