Home / Knowledge / News / Apparel/Garments / 2010 closed with consolidated sales of Euro 850 mn - Geox
2010 closed with consolidated sales of Euro 850 mn - Geox
22
Apr '11
The Shareholders' meeting of Geox S.p.A, approved the Financial Statement for the year ended December 31, 2010 as deliberated by the Board of Directors held on March 3, 2011 and already communicated to the market via press release in the same date.

The Shareholders' meeting has approved a dividend distribution of Euro 0.18 per share, equal to a pay ratio of 80%. Geox will distribute 47 million dividend. The shares will go ex-coupon on 23 May 2011 and dividends will be paid on 26 May 2011.

Mario Moretti Polegato, Chairman and founder of Geox, commented: "2010 closed with consolidated sales of Euro 850 million, substantially in line with 2009, thanks to a satisfactory second half that showed growth of 9%. This positive trend in the second half of the year involved both footwear (+5%) and apparel (+29%), spread over Italy, Europe and North America, whereas emerging markets speeded up, turning in a result of + 17%.

Particular satisfaction came from our directly operated stores which reported comparable growth during the Fall/Winter 2010 season of +14%, further confirmation of the strength of the Geox brand, our technology and the Group's ability to create collections that are appreciated by consumers. Furthermore the Group solid cash position, of over 90 million euro at the end of 2010, allowed us to approve a sizeable dividend of 0.18 euro per share.”

Other Resolutions

The Shareholders' meeting of Geox S.p.A., has approved a new stock option plan aimed at directors and employees with roles that are key for the achievement of the Group's strategic objectives. The details of this plan have been reported in the document filed on March 22, 2011.

By implementing this plan, the company intends to promote and pursue the following objectives: (i) to link the compensation of key resources to the company's effective performance and to the creation of value for the Geox Group; (ii) to orient key resources towards strategies designed to pursue results in the medium/long term; (iii) to align the interests of top and middle management to those of the shareholders and investors; (iv) and to introduce retention policies to raise the fidelity of key resources.

The aforementioned Shareholders' Meeting appointed the Board of Directors to manage the stock option plan with wideranging powers to identify the participants, establish performance objectives, allocate option rights and to implement the plan in all its details.

Geox S.p.A.

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search