Fashion Retailer OVS reported annual sales increase of 1.4 per cent, primarily driven by same-store sales, despite challenging weather conditions that impacted the apparel industry at the season’s start.
The company’s resilience led to a projected slight rise in adjusted EBITDA over the previous year’s € 180.2 million, benefiting from a profitable fourth quarter.
Furthermore, OVS’s adjusted net financial position as of 31st January 2024, shows improvement from the prior year’s € 162 million, even after allocating € 16.4 million for dividends and € 31.4 million for share repurchases.
Notably, the other half of the year saw steady sales, overcoming concerns about consumer spending trends and unusual warm weather, with an increase in the final quarter. In response to these positive developments, OVS’s board has approved a new share buy-back program starting 5th February 2024, allocating up to € 20 million to purchase as many as 11 million shares.
