Switzerland’s Mammut shows first signs of a turnaround
today Aug 15, 2016
Mammut owner Conzzeta said on Friday the sporting goods brand increased by 2% revenue for the first six months of 2016 to CHF 101.4 million, or $104 million.
In the period, the brand improved the operating result from CHF -5.9 million to CHF -4.5 million, while EBIT margin was -4.5%, up from -6% in the previous year.
Mammut, an outdoor apparel, footwear and equipment manufacturer, was adversely affected by warm weather and a challenging competitive environment in the first six months but sales in the strategic target markets that were defined in the five-year strategy program picked up.
In September, Oliver Pabst will join the business as its new CEO, succeeding Rolf Schmid who will be leaving the role after 15 years to pursue new opportunities.
Mammut embarked on a restructuring exercise last year and has since then reconfigured the retail business, concentrating responsibility at management level.
Further measures implemented include the launch of an online shop and preparations for new store openings. The company also invested in enhancing the cooperation with its key retail customers, said Contezza.
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