Lafuma Group’s sales edged up 1.9% to €52.4 million ($71 mm) in its fiscal first quarter ended Dec. 31 from a year earlier. Excluding the costs of a transition to a new partnership in China, growth for the quarter would have been 3%.
Sales in Lafuma’s Outdoor segment declined 4.1% to €13.6 million ($19 mm) due largely to the winding down of a Chinese JV and declining sales of the Ober brand. Sales of the Lafuma brand grew 0.6% even without sales in China. The company said a healthy order book points to continued improvements in sales into the second quarter and over the current fiscal year.
At the Country segment, sales of Le Chameau brand slipped 1.1% to €5.4 million ($7 mm), but the business, which caters to the equestrian lifestyle, grew 5.7% in France.
The Board Sport segment continued to shrink as sales of the Oxbow brand declined 11.2% to €8.9 million ($12 mm). Lafuma attributed the decline to inventory reduction operations carried out at the end of 2009 in France, but said international sales edged up 0.7%, indicating the trend was reversing overseas.
Sales at the Mountain segment rose 12.7% to €24.4 million ($33 mm), mainly owing to the growth of Millet in Europe. The division also markets the Eider brand.
The Group foresees continued growth in sales revenue over the first half of 2010/11, with a higher growth rate over the second quarter compared to the first.
