IC Group's Q3 revenues drop 13.9 percent

Consolidated revenue amounted to 379 million Danish krone (60.9 million dollars) at IC Group, a reduction of 13.9 percent or 11.9 percent in local currency driven by the wholesale channel as well as physical stores. During the quarter, three stores were closed. Gross profit amounted to 228 million Danish krone (36.6 million dollars), and the gross margin declined by 0.3 percentage points to 60.2 percent, attributable to lower margins on sold products. On April 30, the company announced sale of Peak Performance to Amer Sports Corporation.