Lafuma posted a 1.9 percent increase in revenues to €52.4 million in the first quarter of its financial year, which finished on Dec. 31. Sales were affected by the winding down of its Chinese joint venture with Lot and its replacement by a partnership with LG Fashion Excluding the changeover in China, turnover was up by 3 percent. Sales in the group's Great Outdoor division dropped by 4.1 percent to €13.6 million due to the Chinese situation and an ongoing sales decline for the Ober brand. The revenues of the Boardsports unit, represented by Oxbow, slumped by 11.2 percent to €8.9 million due to a cut in inventories carried out in France at the end of 2009. The division's international sales were up by 0.7 percent. Revenues of the Country division were down by 1.1 percent to €5.4 million, but those of the Mountain division were up by 12.7 percent to €24.4 million, thanks to an increase in Millet's sales in Europe. Lafuma claims to have regained market share lost last year in Western Europe, excluding the U.K. During the quarter, sales in France were down by 0.4 percent to €32.1 million while international revenues jumped by 5.7 percent to €20.4 million. The group expects higher sales growth in the second quarter as compared to the first.
