OVS news and archive

OVS posts strong sales and profit growth

Third quarter net sales at OVS of 414.7 million euros increased by 12.8 percent driven by favourable weather and a high conversion rate. Net sales for the nine month period of 1,176 million euros, were up by 6.7 percent. The company said in a release that the positive reception of Stefanel fall-winter collections, driven by its new creative...

BusinessMember

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,...

BusinessMember

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...

BusinessMember

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...

BusinessMember

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...

BusinessMember

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...

BusinessMember

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...

BusinessMember

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...

BusinessMember

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...

BusinessFeaturedMember

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...