Sales up at Escada

Luxury group Escada reported a rise in sales and profits for the first nine months of the fiscal year, with European markets offsetting declines in the US.

Total group sales were up 2.3% to €501.3 million (£350.7m) from €490m (£342.8m), with pre-tax profits up from €10.8m (£7.5m) to €18.3m (£12.7) for the first nine months of the year. 

However sales for the Escada brand fell 2% to €339.9m euros (£237.7), with the company blaming a decline in fortunes in the US. Group sales in North America fell 9% against last year.

Retail sales for the Escada brand in Europe were up but the company reported a slight decline in its wholesale business. Group European sales were up 8.9%.

The Escada Group also owns business unit Primera Group, which owns the Cavita, Apriori and Laurèl brands. It also operates the Biba retail chain.