Wolford AG — Earnings Release 2003

May 8, 2003

News Details

Ad-hoc | 8 May 2003 08:29

Wolford AG english

Wolford stabilizes sales – fourth quarter confirms positive trend Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Wolford stabilizes sales – fourth quarter confirms positive trend For the 2002/03 fiscal year to the end of April, Wolford is reporting preliminary sales of EUR 128.8 million. The decline compared to the prior year was 6.38%, or 4.42% at constant exchange rates. In the traditionally weaker fourth quarter, sales eased by only 5.52% on the year-earlier quarter, reaching EUR 30.0 million versus 31.8 million. In a difficult macroeconomic setting, Wolford thus held its own well in the market, particularly in comparison to the apparel industry. Just over 30% of the decline in sales is attributable to the closure of unprofitable boutiques, while exchange rate fluctuations account for nearly another one-third of the decrease. On balance, however, the sluggish economic activity and stubbornly low consumer optimism have caused consumer spending to remain weak. “Thanks to the conspicuous quality of our products and the strength of our brand, Wolford was less heavily affected by the universal negative trend than other market players,” explains a pleased Fritz Humer, Wolford’s CEO. The business performance was certainly helped by the high-profile collaboration with Vivienne Westwood and the world-wide promotion tied to “Chicago”, the Hollywood movie. A Wolford + Lagerfeld Gallery co-branding collection will ship in July. Current pre-order levels are pointing to good acceptance. Contact: Fritz Humer, CEO, +Tel: +43 (0) 55 74/690 Ext. 1250 http://www.wolford.com The annual financial statements will be released July 16, 2003 in Vienna. end of ad-hoc-announcement (c)DGAP 08.05.2003 ——————————————————————————– WKN: 083400; ISIN: AT0000834007; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München und Stuttgart 080829 Mai 03