Lafuma is considering a stronger development of the winter lines of Oxbow, which currently represent only about 10 percent of its surfwear brand's sales. As previously reported, Oxbow suffered a 14.2 percent sales decline to €67.3 million in the financial year ended last Sept. 30, mainly due to its fashion orientation, and the decline was a stronger 24 percent outside France, where the brand is still insufficiently structured. Legal disputes in Spain and the Netherlands, where Lafuma has taken over Oxbow’s distribution, depressed its results last year. On the other hand, sales in Oxbow’s French stores increased by 4.9 percent on a comparable basis. Overall, Lafuma’s surf operations generated an operating profit of €305,000, down sharply from €5,585,000, and margins will continue to be under pressure because of an ongoing inventory reduction program (more on Lafuma’s outdoor operations in The Outdoor Industry Compass).