52
Fashion Jobs
ZALANDO
Head of Engineering - Emerging Propositions
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Beauty Advisor - Sokos Helsinki (Fulltime Temporary)
Fixed-term · HELSINKI
ESTÉE LAUDER COMPANIES
Full Time Beauty Advisor - Vantaa Airport, Helsinki
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Estee Lauder Companies - Multi Counter Manager - Stockmann, Turku
Permanent · TURKU
MUJI
Avoin Hakemus - Myymälä
Permanent · HELSINKI
MUJI
Avoin Hakemus - Ravintola
Permanent · HELSINKI
JACK & JONES
Myyjä Jack & Jones Helsinki Outlet
Permanent · HELSINKI
MANGO
Sales Assistant
Fixed-term · VANTAA
RITUALS
Sales Advisor (Summerextra) - Tampere - Ratina Shopping Center
Permanent · TAMPERE
RITUALS
Sales Advisor (Summerextra) - Vantaa - Jumbo
Permanent · VANTAA
JACK & JONES
Kesätöihin Myyjäksi Vero Moda / Jack & Jones Porvoo
Permanent · PORVOO
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Mikkeliin
Permanent · MIKKELI
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Ouluun
Permanent · OULU
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Vaasaan
Permanent · VAASA
MONKI
Sales Advisor, 10h (Summer Help Temporary)
Fixed-term · VANTAA
VERO MODA
Myyjä Vero Moda Seinäjoki Idepark
Permanent · SEINÄJOKI
ESTÉE LAUDER COMPANIES
MAC Make-up Artist (20h/Week) - Sokos Tampere
Permanent · TAMPERE
ESTÉE LAUDER COMPANIES
Beauty Advisor (30h/Week) - Stockmann Helsinki
Permanent · HELSINKI
MASSIMO DUTTI
Sales Assistant Massimo Dutti, Helsinki
Permanent · HELSINKI
H&M
Sales Advisor, 15h - Kesätyö
Permanent · SEINÄJOKI
H&M
Sales Advisor, 10h - Kesätyö
Permanent · KOTKA
H&M
Sales Advisor, 10-20h - Kesätyö
Permanent · PORVOO
Translated by
Nicola Mira
Published
Apr 21, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Etam group's net income affected by negative China results

Translated by
Nicola Mira
Published
Apr 21, 2017

Though revenue in 2016 was altogether stable at €1.292 billion, French fashion group Etam has reported mixed annual results, notably affected by a downturn in its Chinese business. The Asian country now accounts for just under 30% of Etam's revenue, and its performance has given a negative twist to the group's financial indicators, which are nevertheless fairly satisfactory from a European and French perspective.


Spring/Summer 2017 collection - Etam


In the last fiscal year, Etam's EBITDA grew in fact by 5.6%, rising from €95.4 million to €100.7 million. Current operating income has however declined: it is on the right track in Europe, growing 14.3% over 2015 to reach €68.3 million, but it was badly hit in China, where current operating income suffered a €19.4 million loss, compounding a €7.4 million one last year.

Etam's consolidated net income eventually added up to €18.2 million, compared to €23.9 million in 2015 though, and gross margin too has posted a slight shortfall, decreasing from 58.7% to 58.3%.

Etam has also published its first quarter 2017 results, and the new fiscal year has started in a troubled fashion: revenue is estimated at €324.6 million, down 7% compared to the same period last year. The European and French businesses are growing in net terms (respectively +2.1% and +1.5%) but comparable sales have slumped in both cases (-2.8% and -3.2%).

Specifically, the Etam and Undiz brands together grew by 3.2% in Europe (but comp sales were down 2.3%), while sales for 1.2.3 fell by 2.6% in the first quarter, with comp sales down 4.9%. These mixed results have been explained by the group as being a combination of "disappointing" end-of-season winter sales and a positive performance by the new collections. The latter may enable Etam to improve in the second quarter, at least in Europe, but in China the first quarter has confirmed, indeed worsened, the downward trend.

Etam's Chinese revenue in the first three months of the year reached €93 million, equivalent to a shortfall of 23.9%, or -21.5%  in comparable retail area terms and at constant exchange rates.

Copyright © 2024 FashionNetwork.com All rights reserved.