Etam Group Q2 sales rise 3.2 percent

REPORT_ In the second quarter of 2014, the Etam Group posted sales of 271.7 million euors (365.9 million dollars), including

a negative currency impact of 4.5 million euros (6 million dollars) mainly related to the depreciation of the yuan against the euro. Sales were up 3.2 percent compared with the second quarter of 2013. Like-for-like and at constant exchange rates, sales increased by 2.8 percent.

Over the first half of 2014, the Etam Group generated sales of 598.4 million euros (805.7 million dollars). Sales were up 0.3 percent compared with the first half of 2013. Like-for-like and at constant exchange rates, sales were up 1.6 percent. In Europe, the second quarter sales went up 6.7 percent or 3.5 percent on a like-for-like basis and at constant exchange rates. Over the first half of 2014, sales were up 7 percent or 4.8 percent on a like-for-like basis and at constant exchange rates.

The Group’s brands achieved satisfactory commercial performance during the first half year thanks to new store concepts, to larger shops dedicated to the lingerie activity of Etam, to a multi-channel strategy and to attractive collections.

In the second quarter of 2014, sales in China were down 5.6 percent and up 0.2 percent like-for-like and at constant exchange rates. Over the first half of 2014, sales were down 11.9 percent. Like-for-like and at constant exchange rates, sales were down 6.1 percent.

At 30 June 2014, the Etam Group had 4,246 stores, including 940 in Europe, 3,083 in China and 223 operated by international franchises. Over the first half, the Group expanded its lingerie businesses in Europe and in export markets where it opened 20 new franchises. However, in China, 88 units were closed.