Translated by
Nicola Mira
Published
May 12, 2017
Download
Download the article
Print
Text size

Geox revenue grows in first quarter 2017

Translated by
Nicola Mira
Published
May 12, 2017

Italian footwear manufacturer Geox has closed the first quarter 2017 with a 1.2% increase in sales, reaching €297.9 million. "I'm satisfied by our group's first quarter results. Revenue grew thanks to the positive performance of the wholesale channel, where sales increased by 6.3%. Overall, our growth was driven by strong results in Russia, Eastern Europe and China, as well as by a boom in online sales, which increased by more than 30%," said Mario Moretti Polegato, the group's President and founder.
 

Geox shoes - Geox


Shoe sales, which accounted for 90% of consolidated revenue, remained stable at +0.8% compared to 2016, reaching €267.4 million. As for ready-to-wear apparel, which for the time being accounts for only 10% of consolidated revenue, its sales grew by 4.5%, up to €30.5 million.

Market-wise, Italy remains Geox's leading country, with a 33.5% share of sales and a revenue on par with 2016. The rest of Europe generated 42.3% of sales, down 1.9%, North America generated 4.9% of sales, down 7.8%, and the rest of the world accounted for 19.3% of sales, up 14.2% thanks to strong results across all markets, except for Hong Kong.

As for the distribution channels, wholesale accounted for 53.2% of sales (+6.3%), and retail for 46.8% of the total (-4%, with 18.8% of sales coming from franchised stores and 28.8% from directly owned ones). According to Mario Moretti Polegato, "these results are proof of the power and effectiveness of our strategic decisions, focused on solid, profitable growth. I am confident we will produce a positive performance this year, generating a level of profits consistent with our objectives."

Copyright © 2024 FashionNetwork.com All rights reserved.