Jan 22, 2016
Etam enjoys a positive 2015
Jan 22, 2016
The French textile distribution group Etam on Thursday published its results for 2015, showing rising sales supported by a positive exchange rate effect and by a good performance by France, despite a fourth quarter that was rather more problematic.
Revenue for the year reached €1.29 billion, equivalent to a 6.2% rise as published, and to a 1.6% rise net of exchange rate effects and in like-for-like terms.
The fourth quarter, however, featured a slow-down in results: published growth was 2.8%, reaching €347.4 million, but in real terms there was a 0.5% downturn, due to the impact of the Paris attacks and the warm weather in France, while at the same time China's revenue fell again.
The exchange rate impact has been positive, chiefly in terms of the yuan's appreciation against the euro, and contributed to the group's performance to the tune of €60.7 million for the whole year and €9.6 million in the fourth quarter, Etam stated in a press release.
Sales in France grew by 5.1% (+3.4% in like-for-like terms and including online sales) between January and the end of December, reaching €777 million.
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