The Obuv Rossii group of companies summed up the financial results of the first quarter of 2012. The revenue of Shoe of Russia for the reporting period amounted to 544 million rubles, an increase compared to the same period of the 2011 year - 51%. Net profit grew by 69,5% and amounted to 42 million rubles. EBITDA margin - 14,71%.
In the first quarter, Obuv Rossii continued to work on improving the assortment. The Westfalika Spring-Summer collection features the first models developed by Thomas Frank, chief designer of Shoe of Russia. Obuv Rossii signed a cooperation agreement with a German designer in November 2011. Thomas Frank has more than 20 years of experience in shoe design, collaborated with such well-known European brands as Peter Kaiser, Ara, Dockers. The company Obuv Rossii does not only develop and create new collections, but also develops the Westfalika brand.
The company also achieved significant growth in the direction of related products. If according to the results of the 2011 year, the share of non-shoe goods in retail revenue was 5%, then in the first quarter of the 2012 year it doubled. Obuv Rossii expands the range of related products under its own brands - now only the Westfalika line of shoe care products has more than 100 items. The plans for this year to increase sales of non-shoe products to 300 million rubles (according to the results of the 2011 year —100 million).
In the first quarter of 2012, installment sales of shoes increased 4 times compared to the same period of 2011. More than 48 thousand contracts were concluded for a total amount of 260 million rubles. At 01.04.2012, the customer installment customer base totaled more than 150 thousand people. The average bill, compared to the first quarter of 2011, increased by 26% and amounted to 5 369 rubles. Almost 50% of customers purchased shoes in installments two or more times.
Obuv Rossii was expanding its presence in those regions in which it was already represented by its own retail, and in the first three months of 2012 opened 9 stores. In Novosibirsk, the company increased the number of Westfalika stores to 15, and in Tyumen to 11. Obuv Rossii opened the second Pedestrian store in Tomsk and Novosibirsk.
Obuv Rossii Group of Companies is a federal shoe retail company, one of the five largest shoe retailers in Russia. It is developing two networks - Westfalika (single brand, mid-price segment) and Pedestrian (economy network), as well as the brand of inexpensive youth shoes Emilia Estra. Today, more than 180 stores of the company operate in 56 cities of Siberia, the Urals, central Russia, the Volga region and the Far East. Revenues in 2011 amounted to 2,203 billion rubles. In January 2012, the rating agency Expert RA raised the credit rating of the company to level “A” - a high level of reliability. Obuv Rossii became the laureate of the “Company of the Year-2010” award (organized by RBC) in the nomination “For Contribution to the Development of the Retail Market”.