At the Italian shoe manufacturer, sales fell by 30 percent in the first quarter
The Italian shoe manufacturer Geox experienced a slump in sales in the first quarter. Sales fell by 29,9 percent to 182,9 million euros. Only our own online trading improved by 21 percent. “After a good start to the year with positive sales in our stores until the beginning of February 2020, the Corona pandemic had a significant economic and social impact worldwide,” commented Mario Moretti Polegato, President and Founder of Geox.
Sales fell the most in the main market of Italy, at -46 percent. In the rest of Europe, sales fell by 22,3 percent to 87,5 million euros. The company expects an even greater decline in sales for the second quarter.
