Sales down but Charles Vögele manages to break even at EBIT level

Swiss fashion retailer, Charles Vögele made further progress last year in its turnaround amid challenging market environment. Following a good performance in the first half of 2014, during which the company managed to end the negative sales trend, the markets turned in September and declined in the fourth quarter of the year. However, owing to a better gross margin, Charles Vögele achieved break even at EBIT level and further reduced consolidated loss. This year, the company aims to focus on its profits while implementing the store format strategy.