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Geox sales rise 6.7% in first half

Italian footwear brand Geox grew sales by 6.7% to €427m (£300m) in the first half.

EBITDA climbed 28.3% to €26.6m (£18.7m) and its gross margin increased from 49.2% in the first half of 2014 to 51.8%.

Footwear sales represented 91% of the total, with apparel making up the rest.

As of June 30, Geox had 1,165 stores worldwide, of which 454 are directly operated.

Chairman and founder Mario Moretti Polegato said: “I am satisfied with the results achieved by the Geox Group in the first half of the year.

“Turnover increased by 6.7 thanks to the growth of the wholesale channel and to the strong performance of comparable sales in the monobrand stores, both directly operated and franchised, in all markets, which grew 8% in the second quarter.

“For the second half of the year the multibrand channel is showing encouraging results with growth in the order backlog of 8% thanks to a generally strong performance in Italy and in key European markets such as the UK, France, Germany and Spain, combined with a positive trend in other geographical areas.

“As we enter the second half of 2015 in an environment that remains volatile and uncertain, we are confident the momentum we have established will continue.”

@KirstyMcGregor

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