Geox sales up 8.1% in first nine months of year
Italian shoe brand Geox has reported that its sales rose by 8.1% to 668.4 million in the first nine months of 2014.
Footwear sales, which accounted for about 87.6% of consolidated sales, increased by 8.7% compared to the first nine months of 2013. Clothing sales rose by 4.6%.
Meanwhile, EBITDA grew to €46.3 million from €31.1 million in the same period in the prior year.
Geox chairman and founder Mario Moretti Polegato said: "I am satisfied with the results for the first nine months, which show steady growth in revenues, up by 8.8% at constant exchange rates. The multi-brand channel is showing a rebound, as expected, with an increase of 13.1% in the third quarter and our direct stores have also put it an excellent performance with a comparable growth of 9.4% in the nine months.
“These results, which have been achieved despite uncertain consumer spending in certain markets, allow us to confirm the targets that we laid down for 2014, namely turnover of €800 million and the expected profitability.”
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