OVS news and archive

OVS increases sales and profitability in H1

Net sales at OVS of 761.7 million euros, increased by 3.6 percent in the first six month period of 2024, despite unfavourable weather conditions in May and June due to the strong recovery during July. The company achieved strong results in the young segment, with the B.Angel more than doubling sales in two years, while the beauty offering,...

Business

OVS posts quarterly sales and profit growth

OVS net sales for the first quarter amounted to 352.2 million euros, up 4.7 percent driven by directly operated stores, where sales were up 5.1 percent. After a year of decline in 2023, OVS said that the franchise channel resumed growth, with sales up 3.2 percent. The OVS brand achieved sales growth mainly on a like-for-like basis. The Upim...

Business

OVS sales and profit improve, outlook positive

OVS ended the year with net sales of 1,536 million euros, up 1.5 percent despite exceptionally unfavourable weather that penalised the apparel market in the initial periods of both seasons. The company’s sales in the first months of 2024 are up by around 5 percent. OVS said in a release that the positive full year result was also due to the best...

Business

OVS expects to report improved profitability, launches share buyback programme

OVS sales for the entire year were up by approximately 1.4 percent, an increase that occurred mainly on the like for like perimeter. The company said in a media statement that the positive result was achieved despite the extremely unfavourable climatic conditions, which penalised the apparel market in both beginning of seasons. Driven by the...

Business

OVS to acquire Gap’s Italian stores

Retail conglomerate OVS has signed an agreement with Gap Inc., which will see the Italian company acquire all Gap stores in Italy, subject to completion of the unions’ consultation process that will start in the upcoming weeks. The agreement follows the two’s ongoing franchise partnership, established early 2020, with OVS already offering...

Business

OVS to issue 200 million euro sustainability-linked bond

Italian clothing company OVS S.p.A. has decided to issue a sustainability-linked bond of up to 200 million euros with a duration of six years. If that sounds familiar - other industry giants like H&M, Burberry and Adidas also recently discovered the value of sustainability-linked bonds. OVS’ board of directors of OVS met on Monday and resolved...

Business

OVS nine months net sales decline

Net sales at OVS S.p.A. for the first nine months of 2019, the company said, amounted to 990.9 million euros (1,104 million dollars), down compared to the first nine months of 2018 due to market contraction and lower purchases of goods in favour of a better quality of sales resulting in lower markdowns to the benefit of profitability in the...

Business

OVS Q1 adjusted EBITDA improves by 2.8 percent

OVS Spa in its first quarter statement sales that sales grew by 2 percent, excluding the sell-in to Sempione Fashion Group and despite a significant market contraction that affected the European and the domestic markets (a cumulative -5.1 percent during the February-April period). During the period, the company’s store network expanded by 54...

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OVS H1 sales up 8.9 percent, EBITDA improves by 9.4 percent

Total sales at OVS grew by 57 million euros (67 million dollars) to 697.1 million euros (828 million dollars), a rise of 8.9 percent, with a 4.1 percent positive contribution from network development and the initial effects of the commercial agreement with Charles Voegele, up 4.8 percent. The company however said that like-for-like sales...

Business

OVS Q1 sales up 6.5 percent, EBITDA improves 11.2 percent

Total sales in the first quarter rose by 19.4 million euros (21 million dollars) or 6.5 percent at OVS. The company said, OVS brand increased its sales by 4.6percent or 11.5 million euros (12.8 million dollars), despite inventory count carried out in February 2017 and the leap year in 2016. UPIM sales increased by 7.8 million euros (8.7 million...

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OVS reports EBITDA growth of 7.1 percent in FY16

Total sales at OVS increased by 43.1 million euros (46 million dollars), or 3.3 percent, with a positive contribution from network expansion, while the company said, like-for-like sales mainly suffered due to adverse weather conditions and decreased by 3.2 percent. EBITDA reached 186.7 million euros (200 million dollars), (13.7 percent as a...

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OVS debuts on Milan Stock Exchange at 4.10 euros a share

OVS – Italy’s largest fashion retailer – debuted Monday on Milan Stock Exchange, becoming the first fashion initial public offering in the country since that of Moncler in December 2013. First day of trading was not the success anticipated by the company, as many in the trade have highlighted. Over the offer period, requests for OVS totalled...