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Lingerie major Etam reports negative sales growth
17
Jul '08
Etam Group is a major player in women's fashion on European markets and Chinese. It designs and distributes its products through three brands: Etam, 1.2.3 and Undiz.

Net sales for the first half 2008 amounted to €482.2 million, down 5.6% over first half 2007. This figure includes a negative currency impact of €4.3 million. On a like-for-like basis(1), Group sales decreased by -8.2%.

Outside China, the Group activity remains stable (-0.3%). Like-for-like, sales decreased by 5.9%. In Europe, retail margin was maintained. In China, sales decreased by -25.9%.

II – 2008 Second Quarter net sales
Net sales for the second quarter 2007 came in at €223.0 million, down -4.9% over second quarter 2007. This figure includes negative currency impact of €1.4 million.

Outside China, the Group activity came in at €195.7 million (-0.9%). On a like-for-like basis(1), sales decreased by 6.9%.

In China, sales decreased by 26.2% in the second quarter 2008, at the same path as the first quarter.

III – Development of the network
Excluding China, the store network added 32 sales outlets during the first half of 2008, including 12 store openings in France.

This lifted the number of new stores opened since 30 June 2007 to 114. At 30 June 2008, the Group had a total of 3,414 sales outlets.

Etam Group


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