Adolfo Domínguez narrows first-half losses
Total revenues increased 7% during the six months of 2017, to reach 54.7 million euros, while comparable sales grew 9.6%, according to Adolfo Domínguez, adding the recent six-month period was its best half-year financial result in five years, and a fifth consecutive quarter of revenue growth for the brand.
In Europe, comparable sales grew 10.1% "with strong growth in Spain." In Mexico, sales lifted 9.8%, Japan witnessed 7.2% gains and the rest of the world rose 3.2%. By brand, Adolfo Domínguez accounted for 78% of sales, while 22% of revenues came from labels U and AD+.
The firm said via a press release that first-half sales grew for the first time since 2012 and that traditionally its results are better during the second half of year, due to Christmas holidays.
The firms earnings before interest, tax, depreciation and amortisation (EBITDA) came in at negative 3.1 million euros, an improvement of 68% on last year (-9.8 million euros). The progression is a result of improved margins, partly due to a decrease in operating expenses of 1.4 million euros.
Committed to a plan to restructure its retail network, the group boasted, at the end of August, 495 shops and counters (63 shops less than in 2015) across 30 different countries.
Translated by Benjamin Fitzgerald
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