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Sales down at international retailer Etam
22
Oct '08
In the third quarter of 2008, the Etam Group generated consolidated net sales of €236.3 million, down 0.3% compared with the third quarter of 2007. This includes a negative currency impact of €0.4 million.

On a comparable structure and at constant exchange rates (like-for-like), sales were down 5.4%. Excluding China, sales were down 0.7% at €192.3 million. Like-for-like and at constant exchange rates, sales fell by 6.9% under difficult market conditions.

The Etam brand's sales performance in France over the period is negatively impacted by the deferral of the "Jours Passions" promotional campaign, which took place in October this year compared with September in 2007.

In China, sales saw a change of trend in the third quarter of 2008 with an increase of 1.9%, driven by a strong performance on a same-store basis (up 7.2%).

Sales to 30 September 2008 came to €718.5 million, down 3.9% year-on-year, including a negative currency effect of €3.9 million. Like-for-like and at constant exchange rates, sales decreased by 6.9% while gross margin was maintained.

Excluding China, sales were down 0.5% at €596.3 million. Like-for-like, sales fell by 6.2%. Over the first nine months of the year, export sales - included in sales for France - rose by 16.2%.

In China, sales decrease was reduced from 22.7% June 2008 year-to-date to 12.3% September 2008 year-to-date on a like-for-like basis, thanks to the actions engaged during the third quarter.

Etam Group

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