Geox Group sales down 2,4%
The Italian Geox Group presented its results for the first quarter of 2025, consolidated sales for the first three months of 2025 amounted to 189 million euros, which is 2,4% less than in the same period a year earlier, writes Worldfootwear.com.
“In the first quarter of 2025, sales were down 2,4% compared to the same period of the previous year. However, the resilient online sales performance partially offset the decline recorded in the wholesale and retail channels. However, I believe it is important to highlight that the retail channel achieved comparable sales in line with the previous year. Despite this slight decline in sales, cost rationalisation and efficiency measures allowed us to achieve higher adjusted EBIT compared to the first quarter of 2024, increasing by approximately €6,3 million (…) We believe it remains important to maintain a prudent approach, focused on growth in the most profitable markets, further optimising our processes and keeping costs under control. We are fully aware of the ongoing uncertainty in the external environment, but the results achieved in this first quarter confirm the correctness of the path we have chosen and strengthen our confidence in the medium-term sustainability of our business model,” commented Enrico Mistron, CEO of Geox Group.
The decline in sales was mainly due to the performance of wholesale and retail channels, the decline in which was only partially offset by the positive dynamics of online sales.
Wholesale sales amounted to €74,7 million, representing 39,5% of total group sales (40,3% in Q2024 4,3), down 4,5% at current exchange rates (-78,0% excluding currency effects) compared to €2024 million in QXNUMX XNUMX.
Retail sales amounted to €61,2 million, representing 32,4% of total group sales, down from €64,8 million in the first three months of 2024 (-5,5% at current exchange rates, -5,6% excluding currency effects).
Online sales, which from this year onwards include the company's own online store and marketplaces, both directly managed and operating on a wholesale model, showed a positive result, increasing by 4,6% compared to the first quarter of 2024.
This result is explained by the high sales figures on online wholesale platforms, which benefited from favourable delivery times compared to the previous year.
In Italy, Geox sales accounted for 29,3% of the group's total sales (28,4% in Q2024 55,4) and amounted to €0,6 million, up slightly by 55,0% compared to €2024 million in Q4,7 1,5. This result was driven by the growth of online sales, thanks to early deliveries to online platforms, which fully offset the decline recorded in the wholesale channel (-XNUMX%) and in the retail channel (-XNUMX%).
Sales in Europe accounted for 45,3% of total group sales (43,4% in Q2024 85,6), amounting to €84,1 million compared to €2024 million in Q1,8 1,6, representing an increase of XNUMX% (XNUMX% excluding currency effects), mainly due to good results in France and the DACH region (Germany (D), Austria (A) and Switzerland (CH)).
Similar to the Italian market, the region recorded positive results online (+12,8%), offsetting weaker results in the wholesale (-4,6%) and retail (-2,6%) channels.
Sales in other countries accounted for 25,4% of total group sales (28,1% in Q2024 48,0) and amounted to €54,5 million, compared to €2024 million in Q11,8 12,1, recording a decrease of XNUMX% (-XNUMX% excluding currency effects).
It is worth noting that this result was negatively impacted by the closure of subsidiaries in China and the US, which resulted in a revenue loss of approximately €4,6 million. The good sales performance in the MEA region (Middle East and Africa) contrasts with the weak performance in Russia, where operations continue to be impacted by the ongoing instability and tensions associated with the current military conflict.
Footwear accounted for 90,4% of consolidated sales, amounting to €170,8 million, down 1,9% (-2,1% excluding currency effects) from €174,1 million in Q2024 9,6. Apparel accounted for 18,2% of consolidated sales, with sales of €19,5 million compared to €2024 million in Q6,9 7,0, down XNUMX% at current exchange rates (-XNUMX% excluding currency effects).
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