Wolford’s first half global sales decreased by 15.7 million euros compared to last year to 43.1 million euros.
The company attributed the decline to the transition to a new logistics provider which led to unexpected delivery problems. The company said in a release that the resulting turnover backlog is confirmed to be eliminated by the end of August 2024.
The company added that the closure of unprofitable stores was another factor that had a significant impact on the result.
Despite the declines, Wolford’s new management plans to stick to the current business model.
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