Geox Spa presented the results for the first quarter of 2025 this Tuesday. According to this, the company generated consolidated revenue of 189.0 million euros in the first three months of the year. This corresponds to a decline of 2.4 percent compared to the same period last year; Current -adjusted the minus amounted to 2.6 percent.
As the company announced, the decline in sales is primarily due to the development in the Wholesale and retail channels. The management explained that the positive performance of the online business was only partially cushioned.
In the first quarter of 2025, sales in the wholesale channel amounted to 74.7 million euros. This corresponds to 39.5 percent of the total turnover of the group, after 40.3 percent in the same period last year. Compared to the 78.0 million euros from the first quarter of 2024, Geox recorded a decline of 4.3 percent for current exchange rates and 4.5 percent in constant exchange rates.
In the retail segment, the company achieved sales of EUR 61.2 million, which corresponds to a share of 32.4 percent in the corporate turnover. The proceeds were therefore below the previous year’s value of 64.8 million euros. This corresponds to a minus of 5.5 percent in current and 5.6 percent in constant exchange rates. As Geox explained, the decline is primarily due to a changed timing in the trade calendar compared to the previous year. In addition, a negative perimeter effect of around 1.2 million euros burdened the result, which is due to branch closures – mainly in the 2024 fiscal year and largely in China.
This development was also evident in the inpatient sales network: the number of stores directly operated sank from 251 in March 2024 to 240 a year later. The franchise stores were reduced from the same period from 157 to 126.
In contrast, the digital channel continued to develop positively. The sales achieved via the online channels-which from this year, both their own web shop and marketplaces that are operated directly or in the Wholesale model-increased by 4.6 percent compared to the previous year.
In Italy, Geox generated sales of 55.4 million euros in the first quarter, which corresponds to a share of 29.3 percent in total sales (28.4 percent in the previous year). Compared to the first quarter of 2024, this corresponds to a slight increase of 0.6 percent.
In Europe (without Italy) the turnover reached 85.6 million euros, which corresponds to 45.3 percent of the group sales (43.4 percent in the same period of the previous year). This corresponds to an increase of 1.8 percent or 1.6 percent in constant exchange rates. The growth was borne in particular by a positive development in France and in the roof region.
This article was used with digital tools translated.
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