Calida Group is in the red in the first half of the year

Swiss clothing group
The Swiss clothing group Calida Holding AG had to accept a significant decline in sales in the first half of 2020. The bottom line was a high loss. The Group cited the effects of the COVID 19 pandemic as the reason.

In the first 6 months of the current year, group sales from continuing operations amounted to 146.2 million Swiss francs (135.9 million euros). This meant a decrease of 18.8 percent (currency-adjusted -14.6 percent) compared to the same period of the previous year. After all, their own online business provided a ray of hope. Sales there rose by 50.1 percent (adjusted for currency effects +59.2 percent) to 32.9 million Swiss francs. The e-commerce share of the Group's total sales in the first half of the year was thus 22.5 percent.

The weeks of store closings in important markets, however, caused revenues to slide in almost all areas. Sales of the underwear brand Calida fell by 14.4 percent (currency-adjusted -11.3 percent) to 54.0 million Swiss francs. At the Aubade lingerie label, sales fell by 20.6 percent to 21.9 million euros. The Millet Mountain Group outdoor segment recorded a 33.5 percent decline in sales (-33.8 percent adjusted for currency effects) to EUR 27.3 million. On the other hand, things went up in the Lafuma Mobilier division, whose sales grew by 3.5 percent (currency-adjusted +3.4 percent) to 32.1 million euros.

The consequences of the health crisis also weighed on the result. The operating loss from continuing operations after six months was 8.2 million Swiss francs after the Group had generated an operating profit of 6.5 million Swiss francs in the same period of the previous year.

The net loss attributable to the shareholders even amounted to 16.2 million Swiss francs. However, this included high negative earnings contributions from the subsidiary Oxbow, which has since been sold. The net loss from continuing operations was 9.8 million Swiss francs (9.1 million euros). In the first-half of 2019, the Calida Group had achieved a surplus of 3.9 million Swiss francs in these areas.



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