French lingerie brand Etam has reported a slight decline in sales during the third quarter, due to negative currency effects and weaker demand in China.

The company yesterday (17 October) said net sales were EUR290.1m (US$397.3m) during the three months to 30 September, down 1.1% on the same period last year. This included a EUR2.2m negative currency impact related to the depreciation of the yuan against the euro. 

On a like-for-like bases, sales at constant exchange rates climbed 1.1%.

In Europe, sales reached EUR199.7m, up 2.6% or 4.5% on a like-for-like basis and at constant exchange rates. Over in China, sales were down 8.3% and 8.1% in like-for-like terms and at constant exchange rates to EUR90.4m.

During the first nine months of the year, sales edged up 0.1% to EUR886.9m. Like-for-like sales at constant exchange rates rose 1.3%.

In addition, the company said chairman of the supervisory board Hervé de Carmoy has resigned for personal reasons, and will be replaced by Rachel Milchior.

The Etam Group had 4,322 stores, including 935 in Europe, 3,189 in China and 198 operated by international franchises, at the end of September.