Geox H1 net sales increase 5.5 percent

Geox in the first half of 2016 consolidated reported net sales increase of 5.5 percent or 6.1 percent at constant forex to 450.3 million euros (499.1 million dollars). Footwear sales, which accounted for about 91 percent of consolidated sales, amounting to 410.1 million euros (454.5 million dollars), increased 5.1 percent and apparel sales, which represented 9 percent of consolidated sales, were equal to 40.2 million euros (44.5 million dollars), with an increase of 9.9 percent.

Commenting on the performance, Mario Moretti Polegato, Chairman and Founder of Geox, said, “A solid growth in turnover was recorded in the first half of the year, despite somewhat challenging consumption trends. Looking towards the future, I am therefore confident that the solid foundations of our business will continue to support our growth, helping us to face the challenges posed by volatile macroeconomic conditions and currency market fluctuations.”

Sales witness improvement across geographies

Sales in Italy amounted to 143.6 million euros (159.1 million dollars) showing a 1 percent increase compared to first half of 2015. Sales in Europe increased by 7.1 percent to 195.8 million euros (217 million dollars) and North American sales amounted to 30.1 million euros (33.3 million dollars), showing an increase of 4.6 percent or 9.4 percent at constant exchange rates. Sales in Other Countries increased by 10.4 percent or 12.3 percent at constant forex compared to the first half of 2015.

Sales of the DOS channel grew 1.7 percent or 2.5 percent at constant forex driven by comparable store sales growth recorded on DOS channel of 1.8 percent against 6.4 percent from the first half last year. Like for like performance was positive in all countries excluding France and Belgium, following the recent events and in China, HK and Japan reflecting a low footfall.

Sales of the franchising channel increased 4.5 percent or 5 percent at constant forex and wholesale stores reported a sales increase of 9.9 percent or 10.5 percent at constant forex.

As of June 30, 2016, the overall number of Geox Shops was 1,151 of which 461 DOS. During the first half of 2016, 37 new Geox Shops were opened and 47 have been closed, in line with the rationalisation plan of the DOS network.

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