Home / Knowledge / News / Fashion / Etam gross margin remains stable at 59.8%
Etam gross margin remains stable at 59.8%
Aug '08
Etam, an International retailer of women's ready-to-wear clothing, lingerie and accessories announces 2008 interim results (financial year from 1 January to 31 December 2008).

Activity and Margin:
Net sales for the first half of 2008 came to €482.7 million, down 5.5% compared with the first half of 2007. This includes a negative currency impact of €4.3 million. Like-for-like and at constant exchange rates, sales fell by 8.2%. Gross margin remained stable at 59.8%.

Despite tight control of operating expenses on a like-for-like basis - particularly in Europe - profit from ordinary activities was impacted by announced increases in staff costs in China, as well as marketing and advertising expenditure in Europe as part of the brand development strategy. Operating expenses were also impacted by the expansion of the network, which increased in size by 7% in Europe to 30 June 2008 compared with 30 June 2007.

As regards other income statement items:
• the net financial charge was €5.0 million compared with €3.3 million in the first half of 2007;
• tax totalled €7.4 million compared with €8.4 million;

Including minority interests of -€4.1 million, net income attributable to the Group came to -€3.2 million compared with €15.4 million in the year-earlier period.

Net debt stood at €146.1 million at 30 June 2008 compared with €116.4 million at 31 December 2007, representing a gearing of 42.1% of equity. This increase relates to heavier investment over the period, as well as the implementation of the share buyback programme in the first half of 2008. However, growth in debt has been stemmed by significant improvement in the Group's working capital requirement.

In China, the Group is actively working on launching collections resulting from the repositioning initiated in early 2008. In Europe, the Group is still subject to difficult economic conditions. Against this backdrop, it is continuing to focus on the attractiveness of its brands and controlling costs.

Etam Developpement

Must ReadView All

Courtesy: Asmara Group

Apparel/Garments | On 20th Sep 2018

Fragmented nature of Indian apparel sector major challenge

A major challenge for the Indian apparel sector is its fragmented...

Courtesy: Aditya Birla Retail

Apparel/Garments | On 20th Sep 2018

Indian Aditya Birla Retail to be acquired by Samara-Amazon

India’s Aditya Birla Group has signed a deal to sell Aditya Birla...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Kaizad Hansotia, GetNatty

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kevin Nelson, TissueGen

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Bani Batra,

Bani Batra

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

Igor Chapurin, Chapurin

Igor Chapurin

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

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2018

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

news category

Related Categories:

Advanced Search