Geox cheered by 34% rise in consolidated sales in 2005
21 Apr '06
3 min read
The shareholders' meeting of Geox SpA, the Italian company leader in the classic and casual footwear market, approved the financial statement for the year ending December 31st 2005.
Shareholders' meeting has also been presented the consolidated financial results. Consolidated sales reached €455.0 million, up 34 percent compared to FY 2004.
Footwear sales accounted for 94 percent of the group's consolidated sales reaching €428.8 million, with a 32 percent increase compared to FY 2004. Apparel sales accounted for 5 percent of consolidated sales equal to €21.7 million (+78 percent).
Italy remains Geox main market accounting for 49 percent of footwear sales (55 percent in 2004) or €208.7 million, up 17 percent compared to FY 2004.
International markets generated sales of €220.1 million, up 51 percent compared to FY 2004. Europe (excluding Italy) accounted for 41 percent of footwear sales (36 percent in 2004) rising to €177.1 million, up 50 percent compared to FY 2004.
All Geox distribution channels showed outstanding growth. Multibrand stores remain Geox main distribution channel generating 76 percent of footwear sales (77 percent in 2004) with sales of €325.6 million, up 31 percent compared to FY 2004. Sales through 'Geox shops' (franchised and directly operated stores - DOS) reached €103.2 million, up 35 percent.
In Italy, multibrand stores' sales reached €137.2 million (up 14 percent compared to FY 2004), while 'Geox shops' sales rose to €71.5 million (up 21 percent). In the International markets sales through multibrand stores reached €188.4 million (up 47 percent), while 'Geox shops' sales rose to €31.7 million (up 83 percent).
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