Desigual's sales down 10.6% at the end of Q3
Desigual can't seem to get back on track. The sales reported by the Catalan company in the third quarter of 2017 have fallen 12.1% compared to the same period last year, having already declined 9.6% in the second quarter.
The French group Eurazeo, the fashion brand's principal shareholder, has just reported its Q3 results and attributes the fall in Desigual's turnover to a decline in the number of orders received through its network of multi-brand distributors for the Autumn 2018 collection.
Although the company did not disclose specific results broken down by distribution channel, Eurazeo stated that sales in Desigual's own stores were in line with those reported in the first quarter of the year.
During the first nine months of 2017, the company's turnover has therefore fallen 10.6% to 603.8 million euros. According to Eurazeo, this reduction is due to poor performance on the European market, which represents 89% of the chain's total sales.
In Latin America, which accounts for a mere 2% of Desigual's revenue, the group has reported double-digit growth.
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