×
60 553
Fashion Jobs
LEVI'S
Part-Time Sales Supervisor
Permanent · Katy
SALLY BEAUTY HOLDINGS LLC
Outside Sales Representative -Cosmoprof
Permanent · Colorado Springs
SALLY BEAUTY HOLDINGS LLC
2nd Shift Inventory Control Specialist
Permanent · Jacksonville
NORDSTROM
Asset Protection - Agent - North Point Marketcenter Rack
Permanent · Alpharetta
NORDSTROM
Asset Protection - Agent - The Outlet Collection Rack
Permanent · Auburn
NORDSTROM
Asset Protection - Security Ambassador - Galleria at Roseville
Permanent · Roseville
LULULEMON
Assistant Manager, Operations | Cherry Creek Mall (1 Year Contract)
Permanent · Denver
LULULEMON
Assistant Manager, Operations | Bellevue Square
Permanent · Bellevue
LULULEMON
Assistant Manager, Operations (Hyde Park)
Permanent · Chicago
OLD NAVY
Assistant Manager, Customer Operations - Airport Square
Permanent · North Wales
OLD NAVY
Assistant Manager, Customer Operations - Monroe Mktplace
Permanent · Selinsgrove
OLD NAVY
Asset Protection Coordinator - Florida West
Permanent · Estero
OLD NAVY
Assistant General Manager, Merchandising - Jefferson Mall
Permanent · Louisville
OLD NAVY
Assistant General Manager, Merchandising - Willowbrook-Houston
Permanent · Houston
OLD NAVY
Assistant Manager, Customer Operations - Oshkosh
Permanent · Oshkosh
OLD NAVY
General Manager - Ridgewood Court
Permanent · Jackson
OLD NAVY
General Manager - Monroe Marketplace
Permanent · Selinsgrove
OLD NAVY
Asset Protection Coordinator - Portland
Permanent · Beaverton
OLD NAVY
General Manager - Tikahtnu Commons
Permanent · Anchorage
OLD NAVY
General Manager - Watertown
Permanent · Watertown
OLD NAVY
Assistant Manager, Customer Operations - Eastwood tc
Permanent · Lansing
OLD NAVY
Assistant Manager, Customer Operations - Consumer sq - ny
Permanent · Elmira
Published
Jul 31, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Aeffe sees earnings plummet in first half of 2019

Published
Jul 31, 2019

Aeffe's progress has taken a hit in the first half of 2019. Suffering from a complicated economic climate, the Italian fashion group's sales slipped 2.4% in its wholesale channel, decreasing across all geographic regions except Asia. Only the company's Moschino label proved to be a bright spot, with other brands, such as Alberta Ferretti, Philosophy and Pollini, posting declines. All this means that in the six-month period ended June 30, 2019, the group's revenue has remained stable, rising 1.3% (1% in constant currencies) to 173.3 million euros.


Moschino is still the main driving force in Aeffe's portfolio - © PixelFormula


As Aeffe Executive Chairman Massimo Ferretti points out in a release, "Encouraged by the good performance of our monobrand stores, the results approved today are influenced by the slowdown in the wholesale channel recorded in the second quarter, penalized by an uncertain macroeconomic situation with consequent impact on margins."

Indeed, the key metrics of the group, which also produces the Jeremy Scott and Cédric Charlier collections via licensing agreements, were in decline during the period, with the company also blaming increased production, marketing and R&D costs. Expenses related to improving its positioning and ensuring visibility also rose, as well as those linked to the necessary resources for developing the group's e-commerce capabilities. 

Aeffe's net earnings therefore fell 37%, down from 8.3 million euros at the end of June 2018, to 5.2 million euros a year later, and that's without taking into account the effects resulting from the company's first ever use of IFRS 16. Applying this international accounting standard, the group's net earnings totaled 5.2 million euros. 
 
EBITDA rose to 26.7 million euros, but only hit 18.3 million if the effects of IFRS 16 aren't taken into account. This reflects a 27.2% increase when compared to the first half of 2018, but a decrease of 12.8% without the application of the new accounting standard. 

The San Giovanni in Marignano-based group's ready-to-wear division is still its biggest earner, posting stable revenues of 132.2 million euros and accounting for 69% of total sales, while the accessories division saw a 4.4% increase in constant currencies. 
 
With 130.1 million euros in sales (up 6.1% from the first half of 2018), Moschino is still the main driving force behind Aeffe's portfolio, responsible for 75% of total revenues, compared to 71% in the same period in the previous year. The group's other brands, including Alberta Ferretti, youth line Philosophy by Lorenzo Serafini and Pollini footwear, as well as the company's licensing activities, all saw a decline in their sales during the first half of the year. 
 
From a geographical point of view, Aeffe's sales only made progress in its "Asia and rest of world" region (excluding Europe and America), where revenues increased 14.8% to 45.5 million euros. 

Copyright © 2022 FashionNetwork.com All rights reserved.