Wolford AG — Earnings Release 2004

Aug 9, 2004

News Details

Ad-hoc | 9 August 2004 08:30

Wolford sales rise in first quarter

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Bregenz, Austria, August 9, 2004 For the first time in three years (since the first quarter of 2001/2002), Wolford generated quarterly sales growth on a year-over-year basis. In the three months from May to July 2004, sales reached EUR 24.1 million, an increase of 2.6 percent over the prior year’s first quarter (EUR 23.5 million). With the exception of Switzerland and Germany, Wolford lifted sales at all subsidiaries. Growth was particularly good in the U.S. at 12 percent (local currency: 17 percent), the U.K. at 21 percent (local currency: 16 percent), Italy at 14 percent and the Eastern European countries at 30 percent. Making the overall growth all the more compelling is the fact that, in the interest of a stronger positioning as a luxury brand (and unlike one year earlier), no appreciable volume of discounted sale items was shipped in the first quarter. At the Wolford-owned outlets, sales from the new stores exceeded sales lost by closures for the first time since 2002. As in the past quarters, the Wolford- owned locations were the strongest growth driver, with a sales increase of 7.3 percent. They now account for 27 percent of total sales. Even in a market like Germany that remains difficult for Wolford, the proprietary locations achieved sales growth of 18 percent compared to last year’s first quarter. In the first quarter the total number of Wolford boutiques decreased from 226 to 223. While five partner boutiques and two Wolford-owned ones were closed, four new partner boutiques opened in Hungary, the Czech Republic, Poland and Kuwait. Growth in Wolford’s brand sales was particularly gratifying in the core legwear business, at 17 percent. This is attributable both to the year-round collection and the latest seasonal fashion products. Wolford is on track in the task of building up the worldwide distribution of the Armani collection. Alongside the existing design partnerships with Westwood and Lagerfeld, a limited collection of pantyhose and bodywear will be available in cooperation with Emilio Pucci from October 2004, both in Pucci and Wolford boutiques and from selected exclusive retailers worldwide. Contact: Holger Dahmen, Chief Executive Officer Peter Simma, Chief Financial Officer investor@wolford.com Wolford AG, Wolfordstraße 1, A-6901 Bregenz, Austria Tel. +43 (0) 5574 690 -0 www.wolford.com end of ad-hoc-announcement (c)DGAP 09.08.2004 ——————————————————————————– WKN: 083400; ISIN: AT0000834007; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München und Stuttgart 090830 Aug 04