• Home
  • V1
  • Design
  • Geox FY 2012 net sales fall by 9 percent

Geox FY 2012 net sales fall by 9 percent

By FashionUnited

loading...

Scroll down to read more

For 2012 consolidated net sales of Geox decreased by 9 percent.

For 2013 the prospects are not very encouraging. However the Group is focusing on the emerging markets of Russia, Eastern Europe, China and Hong Kong by opening about 70 monobrand stores.

Geox is an Italian company of classic and casual footwear. 2012 consolidated net sales decreased by 9 percent to 807, 6 million euros as compared to 887, 2 million euros in 2011. Footwear sales fell by 8.7 percent compared to 2011. Apparel sales saw a 10.5 percent decrease. Sales in Italy, the Group’s main market, showed a 15.3 percent decrease. Sales in Europe declined by 8 percent compared to 2011. North American sales increased by 2.7 percent.

Mario Moretti Polegato, Chairman and founder of Geox, commented: “Geox has closed 2012 with results in line with expectations. Some of the Group's most important markets, such as Italy, Spain and Greece, are suffering a contraction in consumer spending.”

The group is expecting to see a high single digit decrease in sales in the first half of 2013. This is because of the increasingly difficult macroeconomic and financial environment in Europe, especially in the Mediterranean area. Given that there are still products in stock with the distribution network in certain geographical areas, because of unsatisfactory sales during 2012, above all in the wholesale channel, the management believes that it will have to take a very prudent look at sales for the first half of 2013.
Geox