Comercializacion De Camisetas

An Interview with Holger Dahmen,
Chief Executive Officer of Wolford Aktiengesellschaft


Mr. Dahmen, in the 2011/12 fiscal year Wolford once again
succeeded in increasing sales. How do you seethe development
of sales compared to the previous fiscal year?
In the 2010/11 fiscal year we had managed to considerably
increase sales. This positive trend continued in the past
fiscal year,although in a less dynamic manner. Based on
the high prior-year level, total sales rose by 1.3 percent to
EUR 154.1 million. This moderate growth should be seen
against the backdrop of the past fiscalyear which was shaped
by the European sovereign debt and bank crises, and the fact
that the fashion industry was negatively impacted in the first
half-year by unusually warm weather conditions inseveral
core European markets in September and October 2011. These
developments depressed the consumer climate. As a result of a
gratifying second half-year, we were able to achieve a slight rise
insales for the entire 2011/12 fiscal year.
How do you view the development of Wolford’s earnings indicators?
As part of our efforts to expand the number of our international
monobrand points ofsale we increasingly take advantage of
opportunities which frequently arise in the short-term in the current
volatile market environment. In the past fiscal year we opened
numerous own boutiques andthus significantly increased the
density of our retail network. On balance, this investment activity
with its related initial start-up costs combined with preparations
for expanding distribution inChina, the effects of a tax audit
and buying restraint in the second quarter of 2011/12 ended up
having a dampening effect on earnings indicators in spite of the
continued and consistentimplementation of our cost reduction
and efficiency enhancement programs. I generally consider the
development of our operating earnings indicators to be clearly
linked to our targeted, future-oriented...