Geox sees double-digit sales growth in H1 despite Q1 drop
13/05/2021 17:11
May 13 (Reuters) - Italian shoemaker Geox GEO.MI expects
sales to grow at an almost double-digit rate by the end of June
after revenues dropped 17.4% at constant exchange rates in the
first quarter due to coronavirus-driven store closures and
delivery delays.
"Over the last few weeks, sales are greatly improving thanks
to the completion of deliveries to the wholesale channel and the
gradual reopening of stores throughout the network, supported by
the vaccination campaign being rolled out," the company said in
a statement on Thursday.
Geox, which produces apparel and footwear known for its
"breathable technology", reported first-quarter sales of 148.4
million euros, with online sales rising 85% in the period.
(Reporting by Federica Urso, editing by Agnieszka Flak)
((Federica.urso@thomsonreuters.com))