Geox sees sales rising to 800 million euros in 2024
01/12/2021 17:57
MILAN, Dec 1 (Reuters) - Geox GEO.MI forecasts revenues
rising 11% on average per year to more than 800 million euros
($906 million) in 2024, helped by marketing investments and
expected growth in its digital sales channel, the Italian
shoemaker said in a statement on Wednesday.
The forecast compares with a turnover of slightly over 600
million euros the group expects to post for this year.
Outlining its new strategy to 2024, the maker of breathable
yet waterproof footwear said it expected to reach an operating
profit margin of between 5-6% in 2024, compared with an
operational breakeven in 2019, the year before the coronavirus
pandemic had a serious impact on the fashion industry.
The company, which is due to outline the new strategy more
in detail on Thursday, added it plans to invest around 70-80
million euros over the course of the new business plan.
($1 = 0.8832 euros)
(Reporting by Agnieszka Flak, editing by Cristina Carlevaro)
((agnieszka.flak@thomsonreuters.com; +39 06 8030 7754;))