Geox, first quarter results are below expectations. The data
Geox announced the results of first quarterthe announcement took place yesterday when the markets were closed, but there is no good news for the Veneto group footwear. Expectations were higher and they were disappointed. In the first three months of the year the company – reports startmag – recorded consolidated revenues of 193.6 million, not 197 as expected. It is a decrease of 13.5% compared to the previous year. The decline, explains the company in a note, is “mainly attributable to performance of the multi-brand channelwhich recorded a contraction of 21.6% compared to the previous year”. But there is also good news. “Solid performance”, however, of the channel physicist (+4.4%) and above all of digital (+41.9%).
The highest revenues of the group, equal to 43.4% of total revenuesthey come from the Europe area – which includes Austria, Benelux, France, Germany, Great Britain, the Iberian Peninsula, Scandinavia, Switzerland – and amount to 84.1 million euros. They record, however, a decline of 10.3% compared to 93.7 million in 2023. Also in Italy– continues startmag – which with 55 million euros represents 28.4% of the group’s revenues, there is a decrease of 13.2% compared to 63.4 million in 2023.
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