Varner Group looses sales in Cubus and Carlings

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Norwegian fashion group Varner has trouble keeping the sales volumes up. Half of their chains report a lower turnover for the latest financial year.
International flagships Cubus and Carlings are both losing sales despite new store openings – and Vivikes lost 9.2 percent.
Men’s fashion chains Volt and Dressmann on the other hand outperforms the market.

These numbers are reported by Virke, where branch specialist Bror Stende tells Dagens Naeringsliv that the succesful young men’s fashion chain Volt might cannibalize on Carlings.

Vivikes downturn is explained by trouble with the brand profile for years. It is also a pure Norwegian chain while the other ones are established in several countries.

Varner Group runs eleven chains in seven countries with over 1400 stores.

According to the annual report, Varner Group made a 1.27 billion NOK profit in 2014, a decrease of 3 percent.
The management comments that it is a good result regarding the market situation.