Peak Performance, the Swedish ski, outdoor and golf brand, reached sales of 994 million Danish kroner (€133.3m-$169.3m) for the year until the end of September, up by nearly 2 percent compared with the same period one year earlier. The figures transpired from the results of IC Companys, the Danish fashion group that owns Peak Performance, for the first quarter of its fiscal year, until the end of September.
Peak Performance went through some upheavals in the last months, with the implementation of several measures to reduce costs and improve operations, as well as the arrival of a new chief executive. IC Companys said that the measures taken at the Swedish company had already led to some improvements of its gross margin in the quarter, owing to improved buying processes, quicker deliveries and lower inventories.
IC Companys' own sales jumped by 2 percent to DKK 1,197 million (€160.5m-$203.9m) and its operating profit advanced by 13 percent to DKK 166 million (€22.3m-$28.3m) for the quarter, after cutbacks implemented throughout the group in the last months.
Under a new reporting system adopted by the Danish company, Peak Performance will be bundled with three fashion brands (Tiger of Sweden, By Marlene Birger and Designers Remix) in the Premium business unit, which will be sharply in focus at IC Companys. This Premium segment made up about 53 percent of the Danish group's turnover for the year until the end of September and 99 percent of its earnings before interest and tax. Other brands owned by IC Companys were divided between the Midmarket and Fast Fashion units.