Geox aims for continuous improvement
28/07/2009
Italian footwear brand Geox has issued its results for the first half of 2009, showing sales of €482.9, a 4% increase on the figures for the same period last year.
Mario Moretti Polegato, chairman and founder of the company, commented: “I am pleased with the fact that in the first semester of 2009 Geox Group sales rose by 4%, at a time when consumer spending is falling all around the world. Our high profitability, thanks to tight discipline over operating costs, and our solid cash position, equal to €75.9 million at the end of June, have protected us from the negative consequences of this crisis.”
He added that Geox will take immediate action to tighten its supply and distribution chain further. For example, during the first six months of 2009, the company has opened 70 new own-brand stores and closed 13. The new openings include shops in Trieste, Napoli, Dubai and Montreal.
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