In the first nine months of 2021, Geox's consolidated revenue increased 7,8% (8,9% excluding currency fluctuations) over the same period in 2020 to € 463,5 million, Worldfootwear writes. com.
The company associates the sales growth with the gradual resumption of the traditional retail operations, starting from the second quarter.
Geox's wholesale channel revenue in the reporting period increased 13,3% year-on-year to € 250,9 million, representing 54,1% of the group's total revenue.
Sales through the franchise channel, representing about 7,6% of the group's total turnover, reached 9 million euros in the first 2021 months of 35,4. Revenue from direct stores (traditional retail and online), accounting for 38,2% of the group's total revenue, reached € 177,1 million, up 1,4% compared to the same period in 2020.
Sales in Italy, which account for 24,1% of the group's total revenue, rose 9,4% in the first nine months of this year to € 111,8 million, up from € 102,3 million in the same period in 2020.
Geox stressed that the performance in Italy was impacted by the lower percentage of closed stores. During this period, revenue from Europe as a whole, which accounts for 45% of the group's total revenue, rose 3,3% to € 212,8 million, compared to € 205,9 million in the same period last year.
The North America region reported 4,2% revenue growth (5,3% excluding currency fluctuations) to € 19,1 million in the first three quarters of 2021, comparing to € 18,3 million in the same period in 2020.
The company reported a decline in sales in the Asia-Pacific region, caused by a reorganization carried out in Japan, which led to the closure of the branch and the transfer of business to a distributor from 2022. In China, sales rose 6,9%, and in Eastern Europe, sales rose 23%.
Footwear sales accounted for 91,4% of the Group's consolidated revenues in the first nine months of fiscal 2021, amounting to € 423,7 million, representing an increase of 9,9% (10,9% excluding currency fluctuations) over the same year period 2020.
Apparel sales in the reporting period decreased by 10,1% year-on-year (8,5% excluding currency fluctuations) to 39,8 million euros.