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Geox happy with its start to 2011

12/05/2011
Footwear brand Geox has reported a 4% increase in its sales for the first quarter of 2011 compared to the same period last year. The company achieved sales of EUR 345.4 million over the three-month period.

On reporting the results, the company said same-store sales were up by 19%.
 
Earnings before tax and other deductions were EUR 79.2 million, down from the first quarter of 2010 when the figure was EUR 93.6 million.

Commenting on the results, Geox founder and president, Mario Moretti Polegato, commented: “I'm happy with the start we have made to the year, because of these results, which are in line with expectaions, but especially because orders for our autumn-winter 2011-2012 collection are showing solid growth, with an an increase in orders, from multi-brand retail clients and from franchise Geox stores, of 8%.”
 
He said he was particularly pleased with the brand's performance in Russia and other eastern European markets.

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