May 15, 2015
Geox
May 15, 2015
The Italian footwear maker on Thursday announced positive results for its first quarter 2015, with its consolidated net sales increasing by 4.7% (2.5% at constant exchange rates) to €281.0 million.
Footwear sales, which accounted for about 90% of consolidated sales, amounting to €252.8 million, increased 9.0% compared to first quarter of 2014. Meanwhile, apparel sales, which represented 10% of consolidated sales, equal to €28.2 million, compared to €36.5 million of the first quarter 2014.
Sales in Italy, the Group’s main market, which accounted for 36% of sales, in line with the first quarter 2014, amounted to €100.5 million showing a 3.2% increase compared with the same period of the previous year.
Sales in Europe, which accounted for 43% of sales increased by 3.2% to €119.7 million, compared with €116.0 million in the first quarter of 2014.
North American sales amounted to €14.2 million, showing an increase of 15.8% (+1.9% at constant exchange rates). Sales in Other Countries increased by 8.8% compared to the first quarter of 2014 (+1.1% at constant exchange rates).
Sales of the directly-owned channel, which represent 30% of Group revenues, grew 10.9% to €85.6 million compared to the first quarter of 2014.The improvement is mainly driven by new openings and by comparable store sales growth recorded on DOS channel (+4.8%).
Sales of the franchising channel, which account for 20% of Group revenues, amount to €56.3 million, with a decrease of 3.9%.
Multibrand stores representing 50% of Group revenues (49% in the first quarter of 2014) amount to €139.1 million, with an increase of 4.8%.
The group’s EBITDA for the quarter was €30.7 million, 10.9% of sales, compared to €27.8 million (10.4% on sales) of the first quarter of 2014.
€1 = $1.14/£0.72
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