(Tiper Stock Exchange) – Geoxa company listed on Euronext Milan and one of the leaders in the classic and casual footwear sector, closed the first quarter 2023 with consolidated revenues equal to 223.7 million euros, an increase of 21.3% compared to the previous year (+18.9% at constant exchange rates) mainly thanks to the good performance of the multi-brand channel (+32.7%) and franchising (+ 31.8%).
The company now expects i total revenue grow up in 2023 around +4%/+6% (previously +6%/+8%) compared to 2022.
“The greater prudence is due to what was experienced in the month of April and in the first week of May which show a weakness in reorders from the multi-brand channel, especially online, which to date are down compared to the previous year and, at the moment, it is deemed appropriate to assume that this also occurs in the second half of the year – reads the note on the accounts – In fact, it is not yet clear whether this is due to the temporary adverse climatic conditions or to one market and consumer prudence in the light of the inflationary environment and the recession that has not yet been averted”.
With regards to gross margin it is believed that, thanks to the good performance of discounts and transport costs, it could improve in the first half of the year by around 200 bps and by around +130/+150 bps in the second half compared to the same periods of the previous year.