Peak Performance generated some growth in the three months ended March 31, which corresponded to the third quarter in IC Companys' financial year, but without matching the double-digit increases recorded by Tiger of Sweden, Soaked in Luxury and Marlen Birger. Jackpot and Cottonfield suffered setbacks. Across the group's 11 brands, total wholesale revenues fell by 7 percent, leading to a drop in the operating margin to 18.5 percent, but revenues from franchisees went up by 19 percent. Retail revenues were off by 3 percent, and their negative operating margin increased to 10.4 percent from 3.4 percent in the year-ago period. The group's total consolidated revenues dropped by 6 percent to 1,035 million Danish kroner (€139.2m-$177.4m) in the quarter, and its operating margin fell by 3.7 percentage points to 5.4 percent, partly due to a drop of 3.1 percentage points in the gross margin to 54.9 percent. With orders for the autumn collection down by 12 percent in local currencies, the group's management is anticipating continued volatile market conditions, but says that gross margins should increase thanks to declining raw material prices and reduced inventories within the industry.