Geox confirms its growth after the first semester 2015

By

Anne-Sophie Savenier

Published
Aug 3, 2015

In the first half of the fiscal year, closed at the end of June, Italian footwear brand Geox saw its sales grow by 6.7%, reaching €426.9 million. Shoe sales, representing 91% of consolidated sales, reached €390.4 million, with a 10.7% increase over the same period in the previous fiscal year. By contrast, apparel sales decline by 23%, reaching €47.5 million.

The fashion label, which in 2014 returned to growth after a very difficult 2013 fiscal year, is maintaining a positive momentum, posting an EBIT of €7.4 million, from an EBITDA of €26.6 million.
 
The favourable results derive from a growth in domestic sales, where the 'shoes that breathe' brand has recorded an increase in sales of 6.3%, reaching €142.216 million.

In Europe (Italy excepted), which accounts for 43% of sales, the turnover climbed by 3.4%, reaching €182.814 million.

For its part, the North American market generated sales of €28.751 million, an increase of 18.6% (+3.4% at constant exchange rates) compared to the same period in the previous year.

As for sales in the rest of the world, which grew by 11.8% (+2.6% at constant exchange rates), they reached €73.146 million. 
 
Directly-owned shops posted a rise in sales (+12.5%), reaching €184.295 million. In franchised shops, sales declined by 5.7% (€70.296 million compared to €74.529 million in 2014). As for wholesale distribution, sales grew 6.5%, reaching €172.336 million.

Finally, as of June 30th, the Italian footwear label numbered 1,165 shops, of which 454 are directly-owned. In the course of the first semester 2015, Geox opened 54 new shops. However, put into context: at the same time, with the objective of streamlining its network, the group closed 114 shops.