IC Companys has reported a sales increase of 2 percent to 344 million Danish crowns (€46.1m-$63.0m) in its Premium Outdoor segment, which comprises the Peak Performance brand, for the first quarter of its financial year. Sales went up at the wholesale level but the retail channel had a disappointing performance, with sales down by 5.1 percent on a comparable basis. The operating margin (Ebit) of the segment declined to 20.1 percent from 22.5 percent a year ago, mainly because of higher costs related to the development of e-commerce and the physical stores. Overall, IC Companys' revenues were nearly flat at DKK1,052 million (€141.0m-$192.6m) as higher revenues in the Premium Contemporary segment were offset by lower sales in the Mid Market Contemporary segment. The group's gross margin fell by 1.3 percentage points to 56.0 percent, chiefly due to exchange rates. The operating margin (Ebit) declined to 15.1 percent from 15.7 but was actually higher at 16.1 percent after adjustments related to changes in the executive board. The net profit for the period was off by 3 percent to DKK119 million (€16.0m-$21.8m).

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