Geox will open more than 100 new stores in 2012 - footwearbiz: Leading

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Geox will open more than 100 new stores in 2012

09/03/2012
Italian footwear brand Geox has announced full-year sales for 2011 of EUR 887.3 million, an increase of 4% on the previous year, although earnings before tax were lower, EUR 121.5 million in 2011 compared to EUR 132.3 million in 2010.

On announcing the results, Geox founder and company president, Mario Moretti Polegato, commented: "We closed 2011 positively, achieving double-digit growth in emerging markets and smaller growth in Europe. Throughout 2012, we will continue to invest in marketing, product innovation and, above all, in our retail network with the opening of more than 100 new own-brand stores, mosly through franchising."

At the end of 2011, Geox had 1,140 stores across the world, 262 of which are run by the company.

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