Etam Ready-to-wear business performs well in Europe
26 Oct '07
2 min read
Founded in 1916, Etam Group is an international group in the market for women's fashions (ready-to-wear, lingerie and accesories). Its business is the retail sale of fashion products specially tailored for its exclusively female customers.
Third quarter: Net sales for the third quarter 2007 came in at €236.9 million, up 2.5% over third quarter 2006. This figure includes an exchange loss of €1 million.
On a like-for-like basis()1, the Group's activity in Europe increased by 1.2% (+1.3% in France and +1.2% in other countries). In China, it decreased by 15.6%.
At 30 September: Net sales at 30 September 2007 amounted to €747.8 million, up 7.8% over the same period in 2006. Excluding the exchange rate impact, the net sales in China would have increased by 7.6% (the exchange rate impact is a loss of €5.5 million).
On a like-for-like basis(2), Group sales increased by 5.1% (+5.6% in France, -1.6% in China and +6.5% in other countries).
In Europe, the Etam brand reported increased sales for the quarter due to a significant increase in the ready-to-wear business. 1.2.3 posted a slight dip in sales, due in part to low inventory levels at the beginning of the sales season, though this did not impact the brand's improved operating performance.
In China, as mentioned in the interim financial results published for 2007, the Group recorded a drop in sales for the quarter (-7.6% at the real rate of exchange and -5.5% at a constant rate of exchange) due to the drop in business activity like-for-like and to a negative exchange rate impact for the period.
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