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Apr 29, 2009
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Belgium's Van de Velde sees H2 2009 similar to H1

Apr 29, 2009

BRUSSELS, April 29 (Reuters) - Belgian luxury lingerie retailer Van de Velde (VELD.BR) said on Wednesday 29 April initial indicators showed that turnover in the second half of 2009 would be similar to the first half.

Marie Jo, part of the Van de Velde group, "L'Aventure" Spring Summer 2009

Turnover in the first half of the year, excluding luxury lingerie brand Andres Sarda which Van de Velde acquired in June 2008, was improving to steady from slightly negative, the company said.

"Turnover indicators (excluding Andres Sarda) incline from slightly negative to steady for first half of 2009," Van de Velde said, noting that precise turnover would be determined by back-orders for May and June.

"Initial indicators for the second half of 2009 provide a picture similar to the first half," it added.

It said the financial crisis was having an impact on its Eurocorset subsidiary, and that this unit's turnover for the second half of 2009 would be lower than in the second half of 2008.

It said it aimed for the unit to contributed positively to earnings before interest, tax, depreciation and amortisation from the first half of 2010.

The company repeated its goal of stable turnover in 2009. Van de Velde, which exports across the European Union, to the United States and South-east Asia, reported sales of 129.3 million euros ($171.3 million) in 2008, excluding Andres Sarda.

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