Etam (Igg) Fell 2% In The First Quarter Of The Year In China.

According to the latest data, the sales volume of French brand Etam in China has been decreasing. In the past quarter, the sales of the French brand decreased by 2% compared with that of the previous year. How to use the Chinese market has become the concern of the group.

Underwear and clothing retailer ETAM D veloppement SCA (TAM.PA) yesterday released sales data for the first quarter of fiscal year 2016 and its full performance in the 2015 fiscal year.

In the first quarter, China's ETAM D veloppement SCA business recorded a 2% decline in sales than the fixed exchange rate, but the decline narrowed sharply compared with 7% in the four quarter.

During the period, China's total sales amounted to 122 million 300 thousand euros, with an annual reduction of 6.8% in real terms.

European sales rose 5.6% to 226 million 900 thousand euros compared to the same period last year, mainly thanks to the strong growth of France's 6.3% in the local market, while sales in other European countries decreased slightly by 0.1%.

Europe's comparable sales increased by 1.3%, while France increased by 1.7%, but the rest of Europe dropped 1.3%.

The group noted that sales were good in 1 and February, but all the brands in March declined significantly.

The group's overall sales in the first quarter was 349 million 200 thousand.

An increase of 0.9% over the same period last year, an increase of 0.3% over the constant sales rate.

In the 2015 fiscal year, ETAM D veloppement SCA achieved a net profit of 25 million 800 thousand euros, up 7.1% from 24 million 100 thousand euros in fiscal 2014.

Core profit EBITDA increased from 85 million 400 thousand euros to 95 million 400 thousand euros, an increase of 11.7%, of which China's EBITDA jumped 1.75 times to 9 million 900 thousand euros, but the operating profit level loss expanded, operating losses from 6 million 600 thousand euros to 7 million 700 thousand euros, mainly due to the decline in the inventory of the past quarter.

European EBITDA and operating profits rose by 4.5% and 2.6% to 85 million 500 thousand euros and 59 million 800 thousand euros respectively.

The annual sales figures were disclosed in January: China recorded a 2.5% decline in sales compared with sales, which increased by 9.1% to 417 million 400 thousand euros over the same period, including the beneficial effect of the depreciation of the renminbi against the euro and the formation of 59 million 800 thousand euros.

The group's overall sales increased by 1.6%, and sales totaled 1 billion 296 million 600 thousand euros, an annual increase of 6.2%.

As of March 31st, ETAM D e veloppement SCA has 4064 sales outlets worldwide.

950, 270 international authorized partners, and 2844 sales outlets in China.

The market was disappointed with the performance of ETAM D veloppement SCA (TAM.PA), which fell 3.27% to 34.01 euros when no fashion Chinese net was written.