Geox: sales grow by 6.1%
Italian footwear manufacturer Geox published the results of the first nine months of the 2015 fiscal year, showing a 6.1% rise in revenue over the previous year, for a total of €708.9 million. Net income reached €17.1 million, compared to €4.5 million a year earlier.
Mario Moretti Polegato, Geox's President and founder, explained that sales in the first nine months grew thanks to the performances of the multi-brand channel and to a satisfactory like-for-like trend in directly-owned and franchised stores.
Shoe sales, which accounted for 90% of revenue, grew to €639.6 million, a 9.3% increase. Apparel sales declined instead by 16.6%, reaching €69.2 million.
Sales in Italy grew 5.4%, reaching €238 million and accounting for one third of the brand's overall sales.
Sales in the rest of Europe reached €303.5 million, equivalent to a 3% rise, while North America recorded sales for €46 million and a 13.9% increase. Finally, in other countries, sales grew 12.9%, reaching €121.2 million.
The multi-brand channel accounted for 43.8% of Geox sales, reaching €310.7 million and posting a 7.1% rise.
Sales in the branded retail channel rose by 5.3% to €398.1 million. As of 30th September, Geox operated 1,157 stores, 470 of which are directly owned. The latter stores performed better than the franchising network.
Finally, Geox's EBIT was €31.2 million, compared to €15.6 million in the first nine months of 2014.
Next February, Geox will present its 2016/18 strategic plan, notably focusing on expanding the brand in the dollar area.
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