Geox Narrows Losses by 68% but Stays in Red for First Half

Geox improves its numbers, but does not abandon losses. The footwear company has managed to reduce its losses by 68.31% compared to the same period of the previous year. In the first months of the year, its result remains in negative values, with losses of €4.89 million. A figure, however, far from the €15.45 million it lost in the first six months of 2024.

The Italian footwear company has sold 4.7% less than in the same period of 2024. Thus, it recorded €305.3 million, compared to €32.03 million in the previous year. On the other hand, the company achieved a positive ebitda 11.61% higher than last year, up to €32.45 million.

At June 30th, Geox had 590 stores, 238 of which it owned. In Italy, the market in which it has the strongest presence, it has a total of 159 stores, 105 of which are company-owned, and it has 154 stores throughout Europe, 89 of which are company-owned. In terms of products, footwear continues to account for the bulk of its turnover (91.9%).

Geox recorded a positive ebitda 11.61% higher than in the first half of last year

In this period, the company opened ten new stores and closed 36 as part of its plan to optimize its stores, reducing its presence in mature markets and expanding in countries where its presence is limited but which are responding well.

The company says its results are affected by general market conditions, with restrained consumer spending and a significant drop in demand. It therefore maintains that it will continue to focus on the most profitable markets, optimizing processes and controlling costs.

Geox is cautious about the outlook for the full fiscal year, “marked by persistent uncertainty and volatility” with an impact on market dynamics. The company confirms its forecasts and expects a decline in sales of around mid-single digits.