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 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Jay Ramrakhiani
Occasions Elegance Wear

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

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search