OVS Sales Increased 6.5% In The First Quarter.

According to the world clothing shoes and hats net, Italy Volkswagen

OVS SpA (OVS.MI), a retailer, achieved a 6.5% net sales growth in the first quarter, significantly faster than last year's 3.3% and increased profits.

On Tuesday, the group's share price was

Italmobiliare SpA (ITMI.MI), the controlling shareholder of the Italy enterprise family Pesenti, may jointly acquire a number of banks, including Unicredit SpA and Mediobanca SpA, and hit a new high on Wednesday.

In March 2015, Gruppo Coin SpA, a Italy clothing group that split OVS SpA, explicitly sought sale last month.

Gruppo Coin SpA is currently controlled by the UK private Holdings Company BC Partners, which acquired shares of Gruppo Coin SpA 78.7% in 2011 with a valuation of close to 1 billion 300 million euros.

BC Partners has hired Rothschild Rothschild bank to handle the sale.

The assets of Gruppo Coin SpA include 40 major Coin department stores in Italy, and Coin Excelsior in Rome and Venice, which sell about 400 million euros a year, while Milan's Excelsior

The holdings of department stores and OVS SpA are not within the scope of the paction.

In May 10th, Gruppo Coin SpA placed the 11% shares of OVS SpA to institutional investors while OVS SpA chief executive Stefano Beraldo and some other senior management also acquired 0.935% of the shares.

Gruppo Coin SpA SpA has lost about 166 million euros in its holdings, and its shareholding has dropped from 42.12% to 31.12%.

Coin department store was founded by Vittorio Coin in 1916, and the OVS brand was created for the department store.

In 1999, Gruppo Coin SpA, operated by the fourth generation members of the Coin family, was listed on the Milan stock exchange. In 2005, it was bought by Pai Partners, a private Holdings Company in Europe. After two years, BC Partners took over the privatization of the group.

In the first quarter of April 30th, OVS SpA recorded a net sales of 3.193 euros, while same store sales fell from 3.2% in fiscal year 2016 to positive growth. During the period, the group added 11 retail outlets and 42 franchise stores.

Core profit EBITDA rose 11.2% to 29 million 300 thousand euros over the same period, better than the 28 million 300 thousand euros expected by the market, and the EBITDA profit rate increased by 40 basis points to 9.2%.

The pre tax profit was 13 million 800 thousand euros, an annual increase of 28.2%.

At the end of the season, the group's market share remained at 7.4% at the end of December 2016.

OVS SpA said that the integration of Swiss V Charles Gele Holding AG last year was in line with the planned progress.

The group maintained its market share further to 9%-10%'s target and net sales and core profit growth expectations in three years.

OVS SpA (OVS.MI) reported 6.32 euros on Friday, down 0.63% from a day, and has risen 32.2% since 2017, with a market capitalization of about 1 billion 400 million euros.

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