GEOX S.P.A. PRESS RELEASE - REVENUES FOR THE FIRST NINE MONTHS OF 2016
+4.3% INCREASE IN REVENUES DRIVEN BY SOLID GROWTH OF THE WHOLESALE CHANNEL, UP 11.3%, AND ONLINE SALES, WHICH GREW BY MORE THAN 30%.
+9% INCREASE IN ORDER BACKLOG RECORDED BY THE WHOLESALE CHANNEL FOR THE 2017 SPRING/SUMMER SEASON, WITH SOLID GROWTH IN THE GROUP'S MAIN MARKETS COMBINED WITH VERY POSITIVE TRENDS IN OTHER GEOGRAPHIC AREAS, ESPECIALLY IN CHINA, RUSSIA AND THE UK.
Biadene di Montebelluna, 9th November 2016 - Geox S.p.A., a leading brand in classic and casual footwear, listed on the Milan Stock Exchange (MSE: GEO.MI), today analysed its consolidated revenues for the first nine months of 2016.
Mario Moretti Polegato, Chairman and founder of Geox, commented: "Geox has closed the first nine months of 2016 with a 4.3% increase in turnover, thanks to the excellent performance of the wholesale channel, up 11.3%, and online sales, which grew by more than 30%.
Great Britain, Russia and eastern European countries were the main drivers for this performance, recording double-digit growth, with positive sales trends also being recorded by our stores in China in the last weeks.
The wholesale channel has also reported excellent results in terms of order collection for the forthcoming 2017 Spring/Summer season, up 9%. This has been driven by solid overall performance in Italy and the Group's main markets, combined with very positive trends across other geographic areas, including China.
These results have been achieved thanks to the ongoing implementation of our strategic development plan - focusing above all on product innovation - and are even more significant when considering the particularly volatile market conditions.
We are therefore even more focused on achieving maximum levels of efficiency, particularly with regard to manufacturing and retail management, in order to further boost performance and generate sustainable, profitable growth".
NINE MONTHS 2016 SALES
Nine months 2016 consolidated net sales increased by 4.3% to Euro 739.3 million (+4.7% at constant forex). Footwear sales, which accounted for about 90% of consolidated sales, amounting to Euro 668.9 million, increased 4.6% compared to nine months of 2015 (+4.9% at constant forex). Apparel sales, which represented 10% of consolidated sales, equal to Euro 70.4 million, compared to Euro 69.3 million of the nine months 2015 (+1.6%; +2.4% at constant forex).
Footwear | 668,954 | 90.5% | 639,612 | 90.2% | 4.6% |
Apparel | 70,376 | 9.5% | 69,262 | 9.8% | 1.6% |
Net sales | 739,330 | 100.0% | 708,874 | 100.0% | 4.3% |
(Thousands of Euro) 9 Months 2016 % 9 Months 2015 % Var. %
Revenues generated in Italy, representing 31% of the Group's total revenues (34% in the first nine months of 2015), amounted to Euro 231.2 million, compared to Euro 238.1 million in the same period last year. This performance is a result of the planned rationalization of a number of mono-brand stores, which was offset by the positive performance of the wholesale channel, up +3.7% in the first nine months of the year.
Sales in Europe, which accounted for 44% of sales increased by 6.3% (6.4% at constant forex) to Euro 322.8 million, compared with Euro 303.5 million in the same period of 2015.
North American sales amounted to Euro 46.8 million, showing an increase of 1.6% (+5.2% at constant exchange rates). Sales in Other Countries increased by 14.4% compared to the nine months of 2015 (+15.2% at constant forex).
Italy | 231,174 | 31.3% | 238,147 | 33.6% | (2.9%) |
Europe (*) | 322,758 | 43.7% | 303,527 | 42.8% | 6.3% |
North America | 46,801 | 6.3% | 46,077 | 6.5% | 1.6% |
Other countries | 138,597 | 18.7% | 121,123 | 17.1% | 14.4% |
Net sales | 739,330 | 100.0% | 708,874 | 100.0% | 4.3% |
(Thousands of Euro) 9 Months 2016 % 9 Months 2015 % Var. %
(*) Europe includes: Austria, Benelux, France, Germany, UK, Iberia, Scandinavia, Switzerland.
Revenues generated by directly-operated stores, DOS, representing 37% of Group revenues, recorded a slight reduction at Euro 273.8 million (-0.4% at constant exchange rates). This performance is due to the planned rationalization of stores and the stable like-for-like sales of stores in the nine months that have been open for at least 12 months (comparable store sales) (+4.1% in the first nine months of 2015).
Sales of the franchising channel, which account for 16% of Group revenues, amount to Euro 119.7 million, with a decrease of 1.5% (-1.3% at constant forex). As explained for Dos channel, this trend is due to the planned rationalization of the stores and to a slightly decrease on comparable store sales in the nine months (+4.5% in the nine months of 2015).
Wholesale stores representing 47% of Group revenues (44% in the first nine months of 2015) amount to Euro 345.8 million, with an increase of 11.3% (+11.6% at constant forex).
(Thousands of Euro) 9 Months 2016 % 9 Months 2015 % Var. %
Wholesale | 345,796 | 46.8% | 310,762 | 43.8% | 11.3% |
Franchising | 119,690 | 16.2% | 121,504 | 17.1% | (1.5%) |
DOS* | 273,844 | 37.0% | 276,608 | 39.0% | (1.0%) |
Geox Shops | 393,534 | 53.2% | 398,112 | 56.2% | (1.1%) |
Net sales | 739,330 | 100.0% | 708,874 | 100.0% | 4.3% |
* Directly Operated Store |
As of September 30, 2016, the overall number of Geox Shops was 1,148 of which 452 DOS. During the nine months of 2016, 68 new Geox Shops were opened and 81 have been closed, in line with the rationalization plan of the mono-brand network.
09-30-2016 Geox of which Shops DOS | 12-31-2015 Geox of which Shops DOS | 9 Months 2016 Net Openings Openings | Closings | ||||
Italy | 351 | 129 | 360 | 131 | (9) | 8 | (17) |
Europe (*) | 346 | 174 | 348 | 179 | (2) | 9 | (11) |
North America | 46 | 46 | 47 | 47 | (1) | 3 | (4) |
Other countries (**) | 405 | 103 | 406 | 119 | (1) | 48 | (49) |
Total | 1,148 | 452 | 1,161 | 476 | (13) | 68 | (81) |
(*) Europe includes: Austria, Benelux, France, Germany, UK, Iberia, Scandinavia, Switzerland.
(**) Includes Under License Agreement Shops (146 as of September 30 2016, 142 as of December 31 2015). Sales from these shops are not included in the franchising channel.
Geox S.p.A. published this content on 09 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 November 2016 16:36:04 UTC.
Original documenthttp://www.geox.biz/static/upload/9m-/9m-2016-sales.pdf
Public permalinkhttp://www.publicnow.com/view/C129B33BF6777057ED920CA4739C900F56BE5F55
