The Italian shoe provider Geox Spa has completed the 2024 financial year with loss of sales and deep red numbers.
According to a message published on Wednesday, sales last year amounted to 663.8 million euros. This corresponded to a decline of 7.8 percent compared to 2023.
In the wholesale business, the proceeds dropped by 12.5 percent to 325.5 million euros, in the stores led by franchise partners, they decreased by 17.3 percent to EUR 49.8 million. In their own retail, sales were 288.5 million euros thanks to strong growth in the online business (+20.1 percent) and thus slightly above the previous year’s level (+0.3 percent).
Sales of sales and one -off loads ensure deep red numbers
Overall, sales in all market regions declined. In Italy, he fell by 6.6 percent to 187.5 million euros, in the other European countries by 1.4 percent to EUR 300.3 million. In North America, revenues shrank by 11.9 percent to 24.0 million euros, in the remaining global markets they amounted to 151.9 million euros and thus missed the previous year’s level by 18.7 percent.
Despite extensive austerity measures, the result fell by interest, taxes and depreciation (EBITDA) by 29.0 percent to 63.2 million euros. The net loss increased from 6.5 to 30.3 million euros.
The result was burdened, among other things, by one -off expenses of a total of 13 million euros, which had been incurred in the course of the strategic restructuring of the group. The company had reformed its business model and closed the subsidiaries in the USA and China.