FRANCE: Etam Q4 sales dragged down by China
French lingerie brand Etam has recorded a slight rise in fourth quarter sales as its performance weakened in China.
The company said that over the three months ended 31 December, sales rose 1.2% to EUR331m, but were flat on a like-for-like basis.
In China, sales fell 3.6% to EUR122.5m (US$166m), and were down 12.7% on a like-for-like basis.
European sales increased 4.2% over the quarter to EUR208.5m, and were up 5.8% on a like-for-like basis. In the company's home market of France, sales increased 3.6%, and were up 5.4% on a like for like basis.
Over the full year, sales increased 2.8% to EUR778.2m, but fell 3.4% on a like-for-like basis. Chinese sales rose 2.7% to EUR122.5m, but fell 12.6% on a like-for-like basis. European sales were up 2.8% to EUR778.2m, rising 0.6% on a like-for-like basis.
In China, the company said that faced with the decrease in sales, "in a context of economic slowdown and the rapid evolution of distribution channels in China, the group has implemented strong action plans in order to evolve significantly its product offer and selling network".
- TPP: now the real fight starts
- Private label sourcing faces range of pressures
- Can Gap maintain its momentum minus Larsson?
- What clothing could the TPP X-basket contain?
- Where next for e-textiles and smart garments?
- Update: Negotiators agree landmark TPP trade deal
- H&M falling behind on Bangladesh factory safety?
- Nike debuts new fabric for adaptive breathability
- New Bangladesh labour rules draw union criticism
- World cotton trade seen stable in 2015/16
- Wearable technology: The future market potential for smart garments and e-textiles
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Outdoor performance apparel: peaks, valleys, and green fields
- Ethiopia – the emerging textile and clothing industry