The cold summer led to a reduction in retail sales of Obuv Rossii
Obuv Rossii Group of Companies reported on IFRS results for the first half of 2017: the company's revenue growth slowed down and amounted to 1,5% to 4,14 billion rubles, retail sales of Obuv Rossii decreased by 10% to 2,7 billion rub.
The shift of the seasons and the cold summer affected the business results of many shoe companies, as the demand for summer shoes sank significantly. Nevertheless, in the first half of the year, Shoe of Russia managed to maintain a positive trend in revenue. Net income for the reporting period increased by 38,6% year-on-year to 347,7 million rubles.
According to Anton Titov, CEO of Obuv Rossii GC, the positive dynamics in revenue was achieved “due to a significant increase in the wholesale sales of goods, including due to increased sales through online platforms such as Wildberries, and the active promotion of the S-TEP shoe brand, which is the main brand for wholesale sales with a share of more than 50% in the first half of the year. ” Wholesale sales of Obuv Rossii GC in the first half of the year grew 2,3 times to 669,8 million rubles.
In addition, in the first six months of 2017, the company continued to expand its federal network throughout Russia. In May-June, a new franchise program was implemented, more than 50 stores were opened, and by the end of the reporting period the number of retail stores rose to 511. Today Obuv Rossii is the second largest shoe retailer in Russia in terms of the number of outlets.
Due to a reduction in administrative expenses, the company's EBITDA in the first half of 2017 increased by 28,8% year-on-year and amounted to 1 million rubles. EBITDA margin was 052%, up 25,4 percentage points. higher compared to the same period last year.
Group of companies Obuv Rossii Founded in 2003, the head office is located in Novosibirsk. The main business area is the production and sale of footwear and related products. Obuv Rossii develops five shoe chains: Westfalika (a single-brand classic shoe store), Rossita (a family-friendly store), Emilia Estra and Lisette (fashion shoe stores) and Pedestrian (a multi-brand shoe supermarket), as well as shoe brands and clothes for an active lifestyle S-tep, All.go and Snow Guard. The Shoe of Russia shoe network currently has more than 500 stores in more than 140 cities. The company has online stores westfalika.ru, westfalika-home.ru, emilia-esta.ru, rossita.com.
Obuv Rossii Group of Companies reported on IFRS results for the first half of 2017: the company's revenue growth slowed down and amounted to 1,5% - to RUB 4,14 billion, retail sales of Obuv Rossii decreased by ...
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