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Geox Q1 sales up 32% to €245.3m

15 May '06
3 min read

The Board of Directors of Geox SpA, the Italian company leader in the classic and casual footwear market listed on the Milan Stock Exchange, approved the financial results for the Q1 2006.

Consolidated sales reached €245.3 million, up 32 percent compared to Q1 2005. Footwear sales accounted for 95 percent of the group's consolidated sales reaching euro 232.5 million, with a 29 percent increase compared to Q1 2005. Apparel sales accounted for 4 percent of consolidated sales equal to €10.3 million (+56 percent).

Italy remains Geox main market accounting for 38 percent of footwear sales (46 percent in Q1 2005) or €87.2 million, up 5 percent compared to Q1 2005. International markets generated sales of €145.3 million, up 50 percent compared to Q1 2005. Europe (excluding Italy) accounted for 52 percent of footwear sales (46 percent in Q1 2005) rising to €121.9 million, up 47 percent compared to Q1 2005.

All Geox distribution channels, multibrand and 'Geox Shop' (franching and DOS) showed a significant growth. Sales generated by DOS which has been opened for at least 12 months (comparable store sales) decreased by 5 percent. This figure is mainly due to non comparability of the data reported in March because of the changing dates of Easter. The same data calculated at the end of April shows an 8 percent increase, with a growth of 38 percent in the month of April.

Domestic sales have been mainly driven by the multibrand channel. Sales generated by the multibrand stores rose from €61.5 million to €65.1 million (+6 percent); while those generated by the 'Geox Shop' network rose from €21.7 million to €22.1 million (+2 percent).

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