All Geox articles
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ArticleGeox’s store rationalization ‘almost’ completed
Geox said that the rationalization of its network of mono-brand stores is “almost” completed. The Italian footwear company has slashed the network from 974 units at the end of 2019 to 656 at the end of September and expects to finish 2023 with 655 stores. Over the past 12 months, ...
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News briefsGeox picks Penélope Cruz as brand ambassador
Geox has chosen Penélope Cruz as its first-ever brand ambassador. The Spanish actress-cum-model and designer will feature on the Italian brand’s advertising campaign for the forthcoming autumn/winter collection. Cruz has also developed with her sister Mónica a capsule collection with Geox for spring/summer 2024 that will be launched in February. ...
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ArticleGeox trims 2023 sales target after 21% increase in Q1
Geox cut its 2023 target for sales growth to 4-6 percent from 6-8 previously, as weaker reorders in the multi-brand channel in April and the first week of May compared to the previous year have led it to have a more cautious view on its top line expectations. Sales in ...
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ArticleGeox eyes operating profit as 2022 sales jump 21%
Geox said it expects to post an operating profit in 2022 after three years in the red, as it benefits from higher-than-expected sales and a restructuring that has allowed it to cut costs and channel investments to more strategic areas of its business. According to preliminary figures from the Italian ...
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ArticleCasual footwear sales rebound in 2021
As the world returned to more pre-Covid 19 normalcy, to the office and to social events, the branded casual footwear market recovered strongly by rising 19.5 percent in 2021 to $14,671 million from $12,272 million a year earlier. While impressive, the percentage gain did not equal those made by the ...
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ArticleGeox maintains guidance despite expectations for weaker Q4
Geox said it was maintaining its guidance for 2022 after a solid third quarter and despite expectations for a weaker performance in the fourth quarter. Growth in its top line in the last three months of the year is seen limited by delays in deliveries and the loss of apparel ...
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ArticleGeox expects a double-digit growth rate in annual revenues
Following a strong second quarter and a good performance in physical shops, Geox confirmed its guideline for the full year. The Italian footwear company expects a double-digit growth rate in annual revenues to over €700 million. Geox reported €340.6 million of consolidated net sales for the first half of 2022 ...
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ArticleGeox confirms sales outlook despite Ukraine conflict
Geox confirmed a full-year target for sales of over €700 million after posting strong and accelerating growth in the year to date, although it warned the target could be challenging should there not be a rapid resolution to the conflict in Ukraine and highlighted persistent pressures on margins due to ...
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ArticleGeox starts 2022 strongly but Ukraine conflict casts shadow
Geox said it has started 2022 strongly, but highlighted uncertainty about the potential impact of the conflict in Ukraine on its results. The Italian footwear company could not currently quantify the impact of the conflict and economic sanctions against Russia on its performance. In 2021, the company achieved €51 million ...
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ArticleShoe industry marked by IPOs and takeovers in Q4
The footwear industry witnessed further extraordinary finance transactions during the fourth quarter as companies continue to take advantage of the abundant liquidity injected into the financial system by central banks worldwide to shore up the economy after the Covid-19 outbreak last year. Allbirds, the loss-making California-based producer of Wool Runner ...
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ArticleGeox plans to return to pre-Covid sales levels in 2024
Geox expects to approach pre-Covid sales levels in 2024, when it plans to achieve sales of over €800 million compared with €806 million in 2019. The Italian footwear company anticipates to finish 2021 with sales above €600 million. The compound average growth rate (CAGR) between 2021 and 2024 is estimated ...
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ArticleGeox starts Q4 with 50% rise in like-for-like DOS sales, prepares new business plan
Geox has posted an increase in like-for-like sales at directly-operated stores (DOS) of about 50 percent so far in the fourth quarter, bringing them 3 percent above the comparable period in 2019 at week 44 in its fiscal year and continuing with a recovery underway in this channel since the ...
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ArticleCasual footwear market fell by 13.1% in 2020
According to a study conducted by Shoe Intelligence in collaboration with Sporting Goods Intelligence, the branded casual footwear market fell by 13.1 percent in terms of invoiced dollars to an estimated level of $18.33 billion in 2020 due to the devastating impact of the Covid-19 pandemic on retailing and demand. ...
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ArticleGeox closes its Serbian factory
Geox is closing down its Serbian plant in Vranje due to a decline in demand for formal men’s and women’s shoes, in which the factory is specialized. The plant was built between 2014 and 2015 and became fully operational in 2016. Its construction was heavily subsidized by the ...
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News briefs
LIR 2020 net profit shrinks to €0.6m
LIR , the family holding company that controls Geox and Diadora as well real estate assets through Domicapital , posted a net profit of €627,000 in 2020 compared with earnings of €6.52 million in 2019. The company ended 2020 with €817 million in equity and €268 million ...
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ArticleStocks of footwear firms benefit from the re-opening of the economy in Q2
In the second quarter, stocks of footwear companies were generally higher as they benefited from the reopening of the economy, following the easing of Covid-19 restrictions, and a subsequent rebound in the consumption of clothing and shoes. Large U.S. footwear companies, which had already posted strong gains in the first ...
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ArticleGeox sees ‘almost double-digit’ H1 sales growth after Q1 decline
Geox expects to see “almost double-digit” growth in sales in the first half, as progressive store openings and a positive comparison effect in the second quarter are seen more than offsetting the decline in first-quarter sales. In the first quarter, continued store closures due to Covid-19 restrictions, a ...
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ArticleGeox reaches a deal to reorganize its Canadian business
Geox has reached an agreement with creditors to restructure its Canadian business. The company had previously announced plans to streamline its activities in certain countries if it could not align rent costs with market conditions. The other countries under review are the U.S., Japan, the U.K. and Germany. ...
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ArticleGeox to close 110 stores over 3 years
Geox plans to close about 110 small and less profitable stores over the next three years following net closures of 107 during 2020. The shops will be closed as leases expire in order to avoid paying penalties. The pruning is expected to reduce the company’s annual sales by €65-70 ...
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ArticleStocks of footwear companies fell by 16.3% in 2020
Well functioning financial markets are providers of information and signals. We are analyzing last year’s performance of footwear companies, but also of luxury goods and e-commerce companies with a strong footwear component, to see how markets perceived some of the key players of our industry.
