March 12, 2019 / 12:33 PM / 8 days ago

Italian retailer Calzedonia plans expansion after 2018 sales hold steady

MILAN, March 12 (Reuters) - Italian fashion retailer Calzedonia is planning new store openings in the strategically important markets of the United States, China and Japan, it said on Tuesday, as it reported broadly steady sales for 2018.

The company posted revenues of 2.3 billion euros ($2.6 billion) last year, it said, more than half of which was booked abroad, where it operates a string of socks and lingerie chains.

The group, which owns brands Intimissimi and Tezenis, said sales rose 2 percent in 2018 when stripping out currency moves. They fell 0.5 percent due to the foreign exchange impact.

Full-year earnings before interest, tax, depreciation and amortization (EBITDA) totalled 478 million euros, or 20.8 percent of revenues. That is slightly below the previous year’s EBITDA of 489 million euros.

$1 = 0.8883 euros Reporting by Claudia Cristoferi, editing by Valentina Za and Jan Harvey

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