Etam sales suffer in China, Europe posts positive growth

In the fourth quarter of 2016, the net sales at Etam Group amounted to 367.9 million euros (394 million dollars), including a negative currency effect of 5.1 million euros (5.4 million dollars) mainly due to the depreciation of the yuan against euro. Net sales increased by 5.9 percent compared to the fourth quarter of 2015. Like-for-like and at constant exchange rates, net sales increased by 5 percent.

Over the full year to December 31, 2016, the Group’s net sales amounted to 1,292.1 million euros (1,386 million dollars), including a negative currency effect of 19.7 million euros (21 million dollars), which the company said was again due to the depreciation of the yuan against euro. Net sales were nearly stable on a real basis but were down 1 percent like-for-like and at constant exchange rates compared to 2015.

Net sales in Europe witness a rise, China suffers

In Q4 2016, net sales totalled 267 million euros (287 million dollars), up 13 percent or 9.4 percent like-for-like and at constant exchange rates in Europe. During this quarter, Etam said, in-store and e-commerce sales rose in all European and export countries, for all brands and in both lingerie and ready-to-wear.

During the full year, sales came to 926.2 million euros (993 million dollars), up 5.4 percent or 1.7 percent like-for-like and at constant exchange rates. In particular, the company said, Group’s sales in France grew significantly more than those of specialised chains and the lingerie brands continued to gain market share.

In Q4 2016, net sales totalled 100.9 million euros (108 million dollars) in China, down 9.2 percent, including a negative currency effect of 5 million euros (5.3 million dollars) relating to the depreciation of the yuan against the euro. Like-for-like and at constant exchange rates, net sales fell by 8.3 percent. The company said, sales in China remained impacted by falling traffic and consumption slow-down affecting department stores.

During the full year, net sales totalled 365.9 million euros (392 million dollars), down 12.3 percent, including a negative currency effect of 19.2 million euros (20.5 million dollars) relating to the appreciation of the yuan against the euro. Like-for-like and at constant exchange rates, net sales decreased by 9 percent.

Expands presence in France, debuts in Thailand

At December 31, 2016, the Etam Group had 3,906 points of sales, including 988 in Europe, 2,596 in China and 322 international franchises. In 2016, the Group (excluding China) opened 89 additional points of sale in France and abroad. The company said, new stores are mainly involved in the lingerie business and include the opening of 11 Etam lingerie stores in Thailand, for the first time.

The 1.2.3 stores’ network, in France and abroad, was expanded by 26 points of sale. During 2016, Etam launched its website for Poland and Undiz launched its own platform in Spain.

In China, the company added that in line with the strategy of store network adaptation, it was reduced by 281 points of sale over the period.

Picture:Etam