PRESS RELEASE CHARLES VÖGELE GROUP:
REVIEW OF COUNTRY PORTFOLIO COMPLETE
Pfäffikon, SZ - 15 November 2013 - As part of a critical review of Charles
Vögele's country portfolio, the Board of Directors of Charles Vögele Holding
AG decided in April 2013 to withdraw from the loss-making Poland and Czech
Republic country organizations. The Hungary country organization, which was
also under observation, will continue to be part of the Charles Vögele Group.
"The restructuring measures taken are beginning to show success and we believe
that Hungary will continue to develop positively", explains Chairman of the
Board of Directors Hans Ziegler the decision.
This completes the review of the country portfolio. Following the withdrawal
from Poland and the Czech Republic, which will be finished during the course
of next year, the Charles Vögele Group will consist of the following sales
organizations: Switzerland including Liechtenstein, Germany, Belgium, the
Netherlands, Austria, Slovenia and Hungary.
All statements made in this media release that do not refer to historical
facts are future-oriented statements which offer no guarantee of future
performance. They are subject to risks and uncertainties including, but not
limited to, future global economic conditions, exchange rates, legal
requirements, market conditions, activities by competitors and other factors
outside the company's control.
Charles Vögele Group is one of Europe's leading vertical fashion retailers. It
offers the latest fashions at great prices to people in the prime of their
lives who want to feel good. With attractively presented goods, combined with
friendly, knowledgeable advice, it creates a relaxed and enjoyable shopping
experience. As of 30 June 2013, Charles Vögele has around 790 outlets in ten
countries: Switzerland, Germany, Liechtenstein, the Netherlands, Belgium,
Austria, Slovenia, Poland, Hungary and the Czech Republic. In the first half
of 2013 the Group and its approximately 6,700 employees generated gross sales
of CHF 555 million. Charles Vögele Holding AG's shares are quoted on the SIX
Swiss Exchange (securities number: 693 777).
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