Etam Group sales in Q3 decrease 2.1 percent

REPORT_ In the third quarter of 2014, the Etam Group posted sales of 284 million euros (363.4 million dollars), including a negative

currency impact of 0.2 million euros (2.5 million dollars) mainly related to the depreciation of the Yuan against the Euro. Sales were down 2.1 percent compared with the third quarter of 2013. Like-for-like and at constant exchange rates, sales decreased by 2.1 percent.

Over the first nine months of 2014, the Etam Group generated sales of 882.4 million euros (1,129.8 million dollars), including a negative currency impact of 6.7 million euros (8.5 million dollars) mainly related to the depreciation of the Yuan against the Euro. Sales were down 0.5 percent compared with the first nine month of 2013. Like-for-like and at constant exchange rates, sales were up 0.4 percent.

In the third quarter of 2014, sales in Europe were up 0.3 percent and down 1.3 percent on a like-for-like basis and at constant exchange rates. Slowdown in like-for-like sales growth of the Autumn/Winter season was attributed to exceptionally mild weather conditions in September.

Over the first nine months of 2014, sales went up 4.7 percent or 2.8 percent on a like-for-like basis and at constant exchange rates. In France at the end of September year-to-date, the Group’s brands outperformed the women’s clothing and textile market in terms of sales evolution. In the third quarter of 2014, sales were down 7.4 percent or 4.1 percent like-for-like and at constant exchange rates. Over the first nine months of 2014, sales were down 10.6 percent or 5.5 percent on like-for-like and at constant exchange rates.

At 30 September 2014, the Etam Group had 4,141 stores, including 944 in Europe, 2,966 in China and 231 operated by international franchises. Over the first half, the Group expanded its lingerie businesses in Europe and in export markets with 28 net openings. In China, as part of the strategy to streamline the network, the counters network was reduced by 213 non-performing units and the Group opened 8 standalone stores.