Turnover growth for Geox despite Italian slump

Italian shoe brand Geox raised its first quarter turnover by 4.7 %, despite a minor slump in its Italian home territory. The rest of Europe and North America more than made up for it, with impressive turnover growth numbers.

Strong North American growth

Geox’ total turnover reached 294.3 million euro for the first quarter, thanks to growth in all sales channels, particularly its multibrand sales channel (up 7.1 %). Shoe sales, which contribute 90 % of the total turnover, grew another 4.9 % to 265.2 million euro. Clothing sales also grew, up 3.2 % to 29.2 million euro.

Italian turnover dropped slightly, from 100.5 million euro last year, to 99.7 million euro now. The rest of Europe and North America countered the drop with their own turnover growth, up 7.3 % to 128.5 million euro. North American sales itself grew 10.4 % to 15.7 million euro, while the rest of the world grew 8.3 % turnover wise.

By the end of the first quarter, Geox had 1,149 stores, of which it manages 468 itself. During the quarter, it closed 26 stores, but opened another 14.