Etam net sales increase 7 percent in Q3

In the third quarter of 2015, Etam Group net sales amounted to 303.7 million euros (337.2 million dollars), including a positive currency effect of 12.8 million dollars (14.2 million dollars) mainly due to the appreciation of the yuan against euro. Net sales increased by 7 percent compared to the third quarter of 2014, and by 2.3 percent like-for-like and at constant exchange rates.

Over the first nine months of 2015, the Group net sales amounted to 949 million euros (1,053.9 million dollars), including a positive currency effect of 51 million euros (56.6 million dollars) mainly due to the appreciation of the yuan against euro. Net sales increased by 7.6 percent compared with the first nine months of 2014, and by 2.3 percent like-for-like and at constant exchange rates.

Sales in Europe and China witness growth

In Europe, net sales were 214.6 million euros (238.3 million dollars), up 7.2 percent or 4.6 percent like-for-like and at constant exchange rates. Over the first nine months, net sales came to 642.8 million euros (713.8 million dollars), up 5 percent or 3.4 percent like-for-like and at constant exchange rates.

The brand 1.2.3, whose turnover had declined in the first half, has seen a slower sales reduction in the third quarter owing to a good start of its Fall/Winter collections.

In China, net sales were 89.1 million euros (98.9 million dollars), up 6.4 percent, benefiting from a positive currency effect of 12.7 million euros (14.1 million dollars) due to the appreciation of the yuan against euro. Like-for-like and at constant exchange rates, net sales were down by 5.2 percent. Over the first nine months, net sales were up 13.2 percent. Like-for-like and at constant exchange rates, net sales decreased by 0.8 percent.

At September 30, 2015, the Group had 4,013 points of sales as, of which 937 in Europe, 2,799 in China and 277 international franchisees. Since January 1, 2015, the Group has significantly expanded its international stores network for its lingerie activities Etam and Undiz. In addition, it also resumed international openings for 1.2.3 through partnerships in Chile, Colombia and Peru. In China, 136 unprofitable units were closed during this period.