Stefanel news and archive

OVS posts strong sales and profit growth

Third quarter net sales at OVS of 414.7 million euros increased by 12.8 percent driven by favourable weather and a high conversion rate. Net sales for the nine month period of 1,176 million euros, were up by 6.7 percent. The company said in a release that the positive reception of Stefanel fall-winter collections, driven by its new creative...

Business

OVS expects to report improved profitability, launches share buyback programme

OVS sales for the entire year were up by approximately 1.4 percent, an increase that occurred mainly on the like for like perimeter. The company said in a media statement that the positive result was achieved despite the extremely unfavourable climatic conditions, which penalised the apparel market in both beginning of seasons. Driven by the...

Business

OVS predicts positive trading ahead as nine-month sales improve by 11.1 percent

In the first nine months of the fiscal year, OVS made net sales of 1.09 billion dollars, up 11.1 percent compared to the previous year, and up 9.7 percent compared to pre-pandemic levels from 2019. The Italian clothing company hailed a strong recovery in sales during the period with the normalisation of weather conditions from the beginning of...

Business

OVS sales surpass pre-Covid levels, outlook positive

Net sales at OVS S.p.A. of 705.8 million euros, increased 17.8 percent during the first half period compared to H1 2021, and were up 8.5 percent compared to pre-covid period. The company said, on a like-for-like basis, sales rose 4 percent. Adjusted gross margin was in line with previous year and 90 basis points higher than 2019. Adjusted EBITDA...

Business

OVS raises full year outlook

Total sales in the first nine months of 2021 at OVS SpA amounted to 978 million euros, up 33 percent compared with the same period in 2020. For the entire FY21, the company expects net sales in a range of 1.33 to 1.35 billion euros, up from 1.30 to 1.32 billion euros announced at the time of publication of the half-year results and adjusted...

Business

OVS reports positive Q2, updates FY21 outlook

Second quarter net sales at OVS SpA reached 369.7 million euros, up 35.4 percent against the second quarter of 2020 and up 11 percent compared to the second quarter of 2019. First half net sales amounted to 599.2 million euros, 59.5 percent higher than the first half of 2020 and 7.9 percent lower compared to the first half of 2019, recovering...

Business

OVS to acquire Stefanel for 3.2 million euros

OVS SpA has announced that the company is acquiring Stefanel brand and twenty-three stores located in some of the main Italian cities for a total consideration of 3.2 million euros. The company said in a statement that it aims to enrich the OVS portfolio with a brand recognized in Italy and in the world, in particular in women’s knitwear. OVS...

Business

Stefanel UK falls into administration

The UK arm of Italian fashion brand Stefanel has reportedly fallen into administration and will close its two London stores. Administration and insolvency practitioners CVR Global have been called in to deal with the process, Retail Week reports. The company will be closing both its London stores, on Regent Street and in Covent Garden. The news...