Etam Q1 sales down by 1.1%Wednesday, 18 April 2012
The Etam Group generated net sales of €331.2 million in the first quarter of 2012,
including a positive currency impact of €11.5 million relating to the rise of the yuan against the euro. This constitutes a reduction of 1.1% relative to 31 March 2011 and of 9.5% like-for-like and at constant exchange rates.
In Europe, the Group generated sales of €188.6 million, compared with the first quarter of 2011 and down 5.0% like-for-like and at constant exchange rates. The Group started 2012 with a particularly low level of inventories, which impacted the commercial performance of winter end-of-season sales for the Etam and 1.2.3 brands, but had a favorable effect on margins, against the backdrop of tightly controlled costs.
In China, sales totaled €142.5 million in the first quarter, down 2.2% compared with the first quarter of 2011. Like-for-like and at constant exchange rates, sales in China fell by 17.1%. III.
The Etam Group based in France is the International retailer of women's ready-to-wear clothing, lingerie and accessories. By March 2012, had 4,478 sales outlets: 974 in Europe, 193 operated by international franchises and 3,311 in China.