Calida Group, a Swiss clothing company, has reported a currency-adjusted decline in sales of 8.8 per cent in the first half of fiscal 2024 (H1 FY24), bringing total sales to Swiss franc (CHF) 111.3 million (approximately $126.49 million). The adjusted operating profit from continuing operations was CHF 0.5 million, while the adjusted net loss amounted to CHF 0.5 million. This marks a shift from H1 FY23, where the group's continued operations generated a net income of CHF 1.2 million.

Despite the challenging market environment, both the Calida and Aubade brands demonstrated strong performance. Calida contributed CHF 69.9 million to group sales, representing a 3.6 per cent decline compared to the same period last year. Meanwhile, Aubade generated €33.6 million in sales, reflecting a 3.9 per cent decrease from H1 FY23. Cosabella saw a drop in sales to $10.3 million, down 18.6 per cent, the company said in a press release.

“The year to date has seen us systematically pursuing the strategic realignment adopted by the Group Board of Directors in 2023, with its focus on operational excellence and the streamlined, goal-oriented processes this entails. Optimisation of our Group structure and personnel is progressing as planned. Our core brands Calida, Aubade and Cosabella are well positioned internationally and offer attractive potential for growth. The new Calida Group is steadily gaining definition and is well prepared to get back on the road to success,” said Felix Sulzberger, executive chairman of the board of directors of the Calida Group.

Fibre2Fashion News Desk (DP)