Geox confirms its growth after the first semester 2015
In the first half of the fiscal year, closed at the end of June, Italian footwear brand Geox saw its sales grow by 6.7%, reaching €426.9 million. Shoe sales, representing 91% of consolidated sales, reached €390.4 million, with a 10.7% increase over the same period in the previous fiscal year. By contrast, apparel sales decline by 23%, reaching €47.5 million.
The fashion label, which in 2014 returned to growth after a very difficult 2013 fiscal year, is maintaining a positive momentum, posting an EBIT of €7.4 million, from an EBITDA of €26.6 million.
The favourable results derive from a growth in domestic sales, where the 'shoes that breathe' brand has recorded an increase in sales of 6.3%, reaching €142.216 million.
In Europe (Italy excepted), which accounts for 43% of sales, the turnover climbed by 3.4%, reaching €182.814 million.
For its part, the North American market generated sales of €28.751 million, an increase of 18.6% (+3.4% at constant exchange rates) compared to the same period in the previous year.
As for sales in the rest of the world, which grew by 11.8% (+2.6% at constant exchange rates), they reached €73.146 million.
Directly-owned shops posted a rise in sales (+12.5%), reaching €184.295 million. In franchised shops, sales declined by 5.7% (€70.296 million compared to €74.529 million in 2014). As for wholesale distribution, sales grew 6.5%, reaching €172.336 million.
Finally, as of June 30th, the Italian footwear label numbered 1,165 shops, of which 454 are directly-owned. In the course of the first semester 2015, Geox opened 54 new shops. However, put into context: at the same time, with the objective of streamlining its network, the group closed 114 shops.
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