Etam Q1 sales down by 1.1%

The Etam Group generated net sales of €331.2 million (Rs 2749 crores) in the first quarter

of 2012, including a positive currency impact of €11.5 million (Rs 95 crores) relating to the rise of the yuan against the euro. This constitutes a reduction of 1.1% relative to 31 March 2011 and of 9.5% like-for-like and at constant exchange rates.

In Europe, the Group generated sales of €188.6 million (Rs 1,291crores), compared with the first quarter of 2011 and down 5.0% like-for-like and at constant exchange rates. The Group started 2012 with a particularly low level of inventories, which impacted the commercial performance of winter end-of-season sales for the Etam and 1.2.3 brands, but had a favorable effect on margins, against the backdrop of tightly controlled costs.
 
In China, sales totaled €142.5 million (Rs 975crores) in the first quarter, down 2.2% compared with the first quarter of 2011. Like-for-like and at constant exchange rates, sales in China fell by 17.1%. III.

The Etam Group based in France is the International retailer of women's ready-to-wear clothing, lingerie and accessories. By March 2012, had 4,478 sales outlets: 974 in Europe, 193 operated by international franchises and 3,311 in China.