Austrian luxury label Wolford AG (WLFDF.PK,WLFDY.PK) reported Friday a wider net loss in its first quarter impacted by costs relating to the opening of new locations. Sales increased 4 percent.
For the first quarter, net loss was 3.2 million euros, compared to last year's loss of 1.8 million euros. Wolford's EBITDA amounted to negative 1.3 million euros, compared to last year's positive 0.6 million euros.
Sales went up to 33.1 million euros from prior year's 31.8 million euros. The company attributed the growth to the targeted expansion of Wolford's international distribution network, amongst other factors.
Wolford said its first quarter is traditionally the weakest of all quarterly sales periods due to the seasonality of business development and simultaneously involves disproportionally high costs in relation to sales.
Further, the company at the Annual General Meeting held on September 11 resolved to distribute a dividend of 0.40 euros per share for fiscal 2012.
Looking ahead, Wolford said it expects to generate further growth in the 2013 fiscal year.
The company will continue to expand its global monobrand distribution network, both via its own as well as partner-operated points of sale, in order to further strengthen the international presence of the brand. In this regard, Wolford said it will concentrate on its core markets in Europe and Northern America as well as increasingly on the Greater China region.
On Frankfurt, Wolford shares are currently trading at 26.60 euros, down 0.01 euros or 0.06 percent.
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by RTT Staff Writer
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