Lafuma Group reported international sales enabled it to grow revenues 4.4 percent in the first quarter ended Dec. 31 even as sales declined 2.2 percent in its native France.
Lafuma Group’s sales reached €54.7 million ($74 mm), driven by solid growth in Asia, the United States and Northern Europe, which drove up International sales 14.7 percent to €23.3 million ($31 mm). Sales in France fell 2.2% to €31.4 million ($42 mm).
The results marked the fifth straight quarter of growth and the highest quarterly sales performance recorded by the company since 2009, when the company moved to sharply reduce its working capital needs to improve liquidity in response to the financial crisis.
Lafuma’s Great Outdoor division, which owns the Lafuma brand, grew sales 4.4 percent to €14.2 million ($19 mm), while the Mountain division, which owns the Millet and Eider brands, grew sales 8.5 percent to €26.5 million ($36 mm). The Board Sports division, which owns Oxbow, saw sales decline 11 percent to €8 million ($11 mm), while the Country division, which owns the boot brand Le Chameau, grew 11.4 percent to €6.0 million ($8 mm).
The company said it expects to maintain the pace of growth through the current quarter, thanks in part to a solid order book in camping furniture. It still expects to consolidate its global credit structure over the next quarter with a balance of short-term, middle-term and long-term financing arrangements.