Italy's OVS exceeds pre-pandemic sales after strong May
14/06/2022 18:05
MILAN, June 14 (Reuters) - Italian clothing retailer OVS
OVS.MI exceeded pre-pandemic sales levels in the first four
months of its fiscal year after strong growth in May, its chief
executive said on Tuesday.
OVS posted a 31% rise in net sales to 300 million euros
($313 million) for the first quarter of its fiscal year,
compared with the same period last year, which was affected by
the pandemic.
It also reported a core profit of 20.1 million euros.
The sales performance in May "has allowed the first four
months of the year to exceed pre-pandemic sales levels", CEO
Stefano Beraldo said in a statement.
Beraldo added the company could look to the rest of the year
with confidence, despite "geopolitical volatility" and
inflationary pressures.
OVS's financial year runs from February to January.
($1 = 0.9595 euros)
(Reporting by Francesco Zecchini Editing by Gianluca Semeraro
and Mark Potter)
((Francesco.Zecchini@thomsonreuters.com;))