Geox, Spherica EC4.1
Geox Group sales up 2023% in Q21 XNUMX
In the first quarter of 2023, the revenue of the Italian Geox Group amounted to 223,7 million euros, which is 21,3% more than the result for the same period a year earlier (+18,9% excluding currency fluctuations), writes fashionmagazine. it.
The largest growth was shown by the partner multi-brand retail channel (+29,4% excluding currency fluctuations) and the franchise channel (+9,2%), while sales in own retail, which form 29,9% of the group's revenue, remained at the level the same period in 2022.
Sales in Italy, which accounted for 28,3% of the group's revenue (from 26,3% in the first quarter of 2022), rose by 30,6% to €63,4 million. Europe, which accounts for almost 42% of turnover, also showed double-digit growth, with sales in Europe up 10,3% to €93,7 million.
Revenue in the North America region increased by 48,8% (excluding currency fluctuations) to reach 7,5 million euros compared to the first quarter of 2022, while in other countries growth was 28,9%. In particular, in the Asia-Pacific region, revenue grew by 31,8%, while sales in China remained at the same level as last year. In Eastern Europe, growth was 28,4%.
Between January and March 2023, the footwear business posted a 24,6% increase in sales to over €202 million, while the apparel business slightly decreased (-2,9% to around €21 million).
In the first half of the year, Geox Group management expects "almost double-digit" growth in turnover, suggesting "slightly positive" dynamics in the second quarter.
The company has revised down its previous guidance for the year and believes 2023 should end with a 4% to 6% increase in sales compared to 2022 (previously forecast +6% to +8% growth). Great caution, as explained by the company, is due to the fact that in April and early May in the multi-brand channel, especially online, there was a shortage of repeat orders, which may also be due to adverse weather conditions, as well as inflation and recession.
In the first quarter of 2023, the revenue of the Italian Geox Group amounted to 223,7 million euros, which is 21,3% more than the result for the same period a year earlier (+18,9% excluding foreign exchange…
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