FRANCE: Go Sport posts 2012 net loss of EUR21.9m
French sportswear retailer Go Sport saw net losses widen during 2012, to EUR21.9m (US$28.1m) from EUR20m in the prior year.
It recorded a net loss of EUR17.4m in the first six months of trading last year, which cost CEO François Neukirch his job.
The 2012 results did provide some positive signals - EBITDA rose from EUR8.6m in 2011 to EUR9.3m while negative current operating income was reduced from EUR12.1m to EUR9.8m. Net fianncial debt increased from EUR86.2m to EUR101.8m.
2012 sales were up 0.7% on a comparable basis at EUR675.6m, but dipped by 4.2% in the fourth quarter.
Go Sport said its priority for the current year would be to put in place "a plan of action, requiring little investment, aimed at revitalising its activities and improving profitability."
- TPP trade pact in milestone signing by 12 nations
- Cheap polyester contributes to cotton import shift
- US apparel retailers' January 2016 sales roundup
- Combating the new normal – 10 trends for 2016
- Under Armour defends questions over strategy
- Bangladesh factory fire renews worker safety fears
- Southeast Asia – a strategic sourcing review
- China factory activity continues to deteriorate
- H&M and Primark price rivalry reaches equilibrium
- PVH to take control of Tommy Hilfiger China unit
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020
- E-Textiles: Electronic Textiles 2014-2024