French fashion group Etam has managed a 2014 turnover of 1.22 billion euro, up 0.4 % from last year. The year consists of a decent first six months, a disappointing third quarter and a hopeful fourth quarter.
Precarious year for Etam
Etam managed a 3.2 % turnover increase in the first six months of 2015, but its third quarter performance was 2.1 % below 2013's third quarter result. A disappointing discount period and decent weather at the start of the fall season have negatively impacted the third quarter results. Its fourth quarter managed to overturn the downfall, as it managed to grow 2.9 % again.
The company's growth was mainly because of better European sales, up 4.3 % to 838 million euro. 739.3 million euro came from France, which grew 4.2 % itself. Belgian (+ 4.7 %) and Polish (+ 12.8 %) sales were above average, while Spain and Portugal (+ 3.5 %) and Germany (- 2.5 %) under-performed.
Chinese sales were quite disappoiting and dropped 7.1 % to 382.4 million euro, because of lower consumption, a brand repositioning and the closure of 236 onerous stores. By the end of the year, Etam had 4,122 stores, 943 in Europe and 2,935 in China. It also manages 244 international franchises.
Online has helped grow sales, already running in the tens of millions of euros, but Etam has not yet divulged actual numbers. Etam's own brand managed a 19.2 % online sales increase, 1.2.3's sales grew 22.7 % and Undiz even doubled its online sales. Still, Etam even expects further increases in 2015.