Italy Shoe Sales Geox Increased By 9.3% Last Year, With 477 Stores.

Geox's performance in 2014 has been better than expected. The group said that good signs have continued since the beginning of the year, with sales growth and net losses sharply reduced.

This Italy

In a statement published in the annual report, the group pointed out that

Last year's turnover increased by 9.3% compared with 2013.

At the same time, the net loss was significantly reduced from 29 million 700 thousand euros in 2013 to 2 million 940 thousand euros in 2014.

Over the same period, operating profit and net operating profit were significantly improved, respectively, from 34 million 600 thousand euros to 4 million 900 thousand euros, while EBITDA increased from 10 million 700 thousand euros to 42 million 600 thousand euros.

He has been developing steadily, especially in Italy's local market, which is also the most important market (33.1% of the total turnover) and sales increased by 13.7% to 272 million 600 thousand euros.

Sales in other parts of Europe increased by 9.3% to 359 million 200 thousand, of which France (+16.1%) and Spain (+16.5%) increased by double digits.

The turnover in the United States increased by 3.4% (by fixed exchange rate of 7.7%) to 55 million 500 thousand euros, while the increase in the rest of the world was 3.8%.

Good performance has also been recorded in its own stores, accounting for 42% of the group's total revenue.

The sales of its 477 branches increased by 21% to 345 million 700 thousand euros in 2014 (7.9% in the same store).

The sales volume of franchise stores increased by 2.3%, while that of multi brand stores increased by 2%.

As of December 31, 2014, there were 1225 sales outlets under the company.

As a result of the restructuring of the sales network, the group closed 165 branches throughout the year, and the number of new outlets was 91.

In this context, group management remained confident in 2015, but due to the "global macroeconomic difficulties, the political tension in some areas and difficulties with our Chinese partners", the group is cautiously anticipating this year.

In the strategic city of China, in Shanghai and Beijing, the company has operated in a self operated shop and has performed well (the group plans to open 100 self operated stores).

But in other provinces of China, the brand is operated through a partner, but the latter fails to comply with the terms and conditions relating to ordering and investment in the contract, which leads to the fact that he has to cancel the contract and is now looking for new partners.