Italian shoemaker Geox sees lower 2023 sales but higher margins
09/11/2023 16:48
Nov 9 (Reuters) - Italian shoemaker Geox GEO.MI
slightly lowered its full-year sales guidance for a second time
on Thursday, after reporting that preliminary sales had risen
4.1% in the first nine months of the year from the same period
of 2022.
The maker of breathable, waterproof footwear now sees
full-year sales growth in the low to mid single digits at
constant exchange rates, compared to previous guidance of
between 4% and 6% year-on-year.
However, it said it expected its full-year gross margin to
increase by 250-300 basis points, up from a previous forecast of
220-240 bps.
The group said it had appointed Andrea Maldi as chief
financial officer.
(Reporting by Alessandro Parodi, editing by Kirsten Donovan)
((Alessandro.Parodi@thomsonreuters.com;))