CALIDA: first half shows results of Lafuma restructuring
SALES of the Lafuma sports equipment business, in which it acquired a majority stake last year, contributed to the first half sales rise of 110 per cent, to CHF 197.4m, announced by Calida. Although sales of Lafuma declined by 11 per cent to EUR 85.5m, it produced an operating profit of EUR 1.5m against an operating loss, excluding exceptional one-off costs, of EUR 5m a year earlier. Sales of Calida branded merchandise rose by 1.5 per cent to CHF 60.2m as trade by its own stores rose by 5 per cent. Falling consumption in France slashed sales of Aubade lingerie by 4.1 per cent to EUR 26.9m as its wholesale sales slumped by 12 per cent and its own retail store sales rose by 4.3 per cent. Calida Group earnings in the first half rose by 17 per cent to CHF 5.2m.
The return of Lafuma to operating profits has taken place earlier than expected, which is a tribute to the effectiveness of the restructuring measures taken by Calida.