Fenix Outdoor slips deeper into the red in second quarter
The Zug, Switzerland-based group, which includes retailers such as Globetrotter, Naturkompaniet and Friluftsland, as well as brands such as Fjällräven, Tierra and Hanwag, experienced a quarter "full of challenges" that "did not go as expected", according to an interim report published on Tuesday.
In the period from April to June, the group's total revenue amounted to 146.5 million euros. This represents a 4.2 percent decrease compared to the same quarter last year. In the Frilufts segment, which includes the outdoor retail chains, revenue increased by 1.5 percent to 83.5 million euros thanks to good business in Norway, Finland and Sweden. However, this was not enough to fully offset declines in the other divisions.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 8 percent to 6.6 million euros. The net loss, which had been 7.5 million euros in the prior-year quarter, increased to 10 million euros.
In the first six months as a whole, Fenix Outdoor's sales fell by 4.7 percent to 306.6 million euros. The net loss increased from 0.6 to 9.9 million euros. This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
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