Despite declining revenues, Geox improved its profitability in the first half of 2026. The Italian shoe company's sales fell by 11,4 percent to €270,4 million. Adjusted for deliberately closed stores and discontinued distribution channels, the decline was 8,8 percent.
Adjusted EBITDA rose from €8,6 million to €12,6 million. Adjusted operating profit improved from €0,6 million to €5,6 million. The net loss decreased from €4,9 million to €3,9 million. This was based on savings of approximately €19,1 million and an improvement in the gross margin from 51,2% to 52,6%.
Declines in all sales channels
Wholesale revenue fell by 13 percent, retail sales by 8,5 percent, and revenue from digital channels by 14 percent. The company's own online shop performed well, showing a comparable increase of 9,2 percent. In Europe, revenue declined by 9,5 percent, with Geox highlighting the particularly weak performance in the DACH region (Germany, Austria, Switzerland) and France.
As part of its restructuring, Geox reduced its monobrand network from 570 to 525 stores. In the first half of the year, 58 locations were closed and 13 new ones opened. The company expects growth impetus from, among other things, the new Climasandal with patented ventilation technology, which is scheduled for wider launch in spring/summer 2027.
