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Etam Developpement posts slight dip in Q4 sales
30
Jan '14
In the backdrop of a slowdown in China, French women’s apparel company Etam Developpement SCA witnessed a slight dip in sales revenue in the fourth quarter of 2013.
 
The company, which is a designer and retailer of ready-to-wear women clothing, lingerie and accessories, reported net sales of 328.4 million euro in the fourth quarter ended December 31, 2013, down by 0.8 per cent from the same period a year ago amid a dip in sales from China and negative currency fluctuation impact.
 
On a like-for-like and at constant exchange rate basis, the company reported a 1.9 per cent rise in sales in Q4 2013 from the year ago quarter.
 
Driven by robust sales from its home market, the company posted a 5.2 per cent rise in revenue from Europe at 219.2 million euro in the fourth quarter of 2013 from the same period a year ago. On a like-for-like and at constant exchange rate basis, the company reported a 4.7 per cent rise in sales from European markets in Q4 2013 from the year ago quarter.
 
With fashionable brands such as Etam targeted at younger women, the company remains an outperformer in the French clothing and textiles market.
 
Sales from France witnessed a 5.2 per cent rise at 194.2 million euro in Q4 2013 from the year ago period, on a real basis.
 
The depreciation of the euro against the yuan and weakening consumer demand in China amid a deepening economic slowdown, weighed heavily on the company’s business in China as sales dropped by 11 per cent to 109.2 million euro in Q4 2013 from the year ago period.
 

Fibre2fashion News Desk - India

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