Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. OVS S.p.A.
  6. News
  7. Summary
    OVS   IT0005043507

OVS S.P.A.

(OVS)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Clothes retailer OVS to run all 11 Gap stores in Italy

11/03/2021 | 01:29pm EST

MILAN, Nov 3 (Reuters) - Italian clothing retailer OVS has agreed with Gap Inc to take over and run all 11 stores the U.S. apparel group has in Italy, adding that it plans to expand the network to 20 in a few years.

The deal follows Gap's strategic review last year of its European business to cut costs, while maintaining a presence.

In September, Gap struck a deal with British clothing retailer Next, which will run the U.S. group's business in the UK and Ireland.

The retailer has also reached an agreement for Hermione People & Brands to run its stores in France.

"The transfer of all the 11 Gap stores in Italy to OVS will allow Gap to operate its business through a more capital efficient partner model and to benefit from the expertise of OVS," the companies said in a joint statement.

They added that the deal is expected to close in February.

OVS is planning to expand GAP's network to 20 stores in the next 3-4 years, OVS's Chief Financial Officer Nicola Perin said in a conference call.

"The decision to transfer our Gap business is an example of how we are partnering to amplify and grow our brand in international markets," Mark Breitbard, President and CEO of Gap Global, said in the statement.

OVS started to sell Gap's clothes in some of its stores and online in 2020.

The franchising deal announced on Wednesday is for seven years and will not require any investment by OVS, the Italian retailer's CEO Stefano Beraldo said on the conference call.

(Reporting by Elisa Anzolin; Editing by Barbara Lewis and Alexander Smith)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NEXT PLC 0.24% 7558 Delayed Quote.-7.48%
OVS S.P.A. 0.82% 2.454 Delayed Quote.-4.92%
All news about OVS S.P.A.
2021Global markets live: UBS, Toyota, MGM Resorts, Ocado, Nike...
2021OVS S P A : The Board of Directors approved the results of the third quarter 2021
PU
2021OVS S P A : Sales and cash generation in strong growth in the third quarter. Early repayme..
PU
2021Results of the offering
AQ
2021Issuance of the OVS Sustainability-Linked Bond
PU
2021Clothes retailer OVS to run all 11 Gap stores in Italy
RE
2021Results of the offering of the OVS Sustainability-Linked Bond
PU
2021Gap Inc. and OVS Sign Agreement for Acquisition of Gap Stores in Italy
PU
2021Sustainability-Linked Bond - Orders placed for an amount exceeding Ç150 million in the ..
PU
2021OVS S P A : Interest rate and yield for the Sustainability-Linked Bond for an amount up to..
PU
More news
Financials
Sales 2022 1 349 M 1 525 M 1 525 M
Net income 2022 24,1 M 27,2 M 27,2 M
Net Debt 2022 1 114 M 1 260 M 1 260 M
P/E ratio 2022 22,6x
Yield 2022 -
Capitalization 712 M 807 M 805 M
EV / Sales 2022 1,35x
EV / Sales 2023 1,21x
Nbr of Employees 5 935
Free-Float 71,6%
Chart OVS S.P.A.
Duration : Period :
OVS S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends OVS S.P.A.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 2,45 €
Average target price 3,13 €
Spread / Average Target 27,3%
EPS Revisions
Managers and Directors
Stefano Beraldo Chief Executive Officer, Executive Director & GM
Nicola Perin Director-Administration, Finance & Control
Franco Moscetti Chairman
Heinz JŘrgen Krogner-Kornalik Independent Non-Executive Director
Gabriele del Torchio Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
OVS S.P.A.-4.92%801
LVMH MOËT HENNESSY LOUIS VUITTON SE-4.03%398 923
LULULEMON ATHLETICA INC.-15.46%42 790
V.F. CORPORATION-3.84%27 656
LI NING COMPANY LIMITED-6.44%25 174
MONCLER S.P.A.-8.81%17 862