×
214
Fashion Jobs
PAUL SMITH
Junior Art Director - Japan
Permanent · TOKYO
360 TALENT LONDON
Senior Sales Executive
Permanent · LONDON
PAUL SMITH
Franchise Regional Executive
Permanent · LONDON
CONFIDENTIAL
Kidswear Area Manager - UK Market
Permanent · LONDON
BURBERRY
Retail Training Manager Emeia
Permanent · LONDON
CALZEDONIA GROUP
Key Holder
Permanent · LONDON
DR MARTENS - AIRWAIR INTERNATIONAL
Footwear Purchasing And Planning Aid
Permanent · WOLLASTON
HOMEGOODS
Loss Prevention Detective
Permanent · Edina
JU-NNA
Studio Intern
Internship · LONDON
SANDRO UK
Sales Assistant - 12 Hours m/f
Temp/seasonal · LONDON
ZADIG & VOLTAIRE
Sales Assistant
Permanent · LONDON
THE SIMPLE FOLK
Graphic Designer And Image Retoucher
Freelance ·
MOON
Retail Manager - York Flagship Store
Permanent · YORK
RELY RECRUITMENT
Luxury Menswear Concession Sales Manager
Permanent · LONDON
CLAUDIE PIERLOT UK
Sales Assistant - 16h - Temporary - Birmingham - UK Nord m/f
Fixed-term · BIRMINGHAM
CLAUDIE PIERLOT UK
Sales Assistant - 16h - Permanent - Birmingham - UK Nord m/f
Permanent · BIRMINGHAM
HEIDI KLEIN
Wholesale Assistant
Internship · LONDON
VIVIENNE WESTWOOD LTD
E-Commerce Customer Service (Maternity Cover)
Fixed-term · LONDON BOROUGH OF MERTON
FRENCH CONNECTION
Womenswear Woven Design Internship
Internship · LONDON
SANDRO UK
Sales Assistant - 24 Hours - Ashford Store m/f
Permanent · JERSEY CITY
LE COLONEL MOUTARDE
Sales Assistant
Internship · LONDON
DAVID KOMA
Wholesale Assistant Internship
Internship · LONDON
Advertisements
By
Ansa
Translated by
Nicola Mira
Published
Mar 9, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Italian footwear group Geox swings into red in 2019

By
Ansa
Translated by
Nicola Mira
Published
Mar 9, 2020

In 2019, Italian footwear group Geox generated a revenue of €805.9 million, equivalent to a 3.3% shortfall at constant exchange rates and a 2.6% one at current rates. Geox has been downsizing in the multibrand retail and franchised stores channels in order to reduce business risk.


Foto: Geox


“In addition to socio-political tensions in some key markets, France and Hong Kong in particular, and to the major changes looming in Europe owing to Brexit, the entire industry has had to deal with a profound, continued change in purchasing behaviour, which is increasingly oriented towards digital channels,” said CEO Livio Libralesso. Geox noted however that there was an improvement in Q4, with revenue growing 4.9% over the same period in 2018.

Adjusted EBIT was in the red by €3 million (it was €15.2 million in 2018). Adjusted net income was negative by €10.6 million (it was €2 million in the black in 2018), due also to the non-allocation of nearly €4 million in deferred tax assets. The net financial position was €6.6 million (pre-IFRS 16), net assets were €305 million, and operating capital was equivalent to 22.7% of revenue, following an inventory optimisation effort.

“The year began well, with positive results in our stores until early February 2020, but the recent developments linked to the spread of Covid-19 have had an impact on footfall and retail sales, especially in the countries that have been worst hit by the virus’ spread,” said Libralesso.

He added that “Geox is liaising closely with the authorities and has deemed it essential to immediately implement all the measures necessary to protect the health of its employees, partners and suppliers, and of consumers. Current evidence shows that our own e-tail channel is resilient, and so are some of our main markets, but also that we must monitor how the situation is evolving with the utmost care, in order to both deploy initiatives to counter the possible negative impacts on business, and to continue our activity and carry out the most essential investments, relying on the group’s solidity.”

Copyright © 2021 ANSA. All rights reserved.