ANNUAL results of distribution group Etam showed that nominal sales had risen by 6.2 per cent to EUR 1.29bn although like-for-like sales at constant exchange rates rose by only 1.6 per cent. Nevertheless, EBITDA rose by 11.7 per cent to EUR 95.4m while net profit was 7 per cent higher at EUR 25.8m. In Europe, the like-for-like sales growth of 2.9 per cent was achieved mainly as a result of lingerie sales by the Etam and Undiz retail networks while the group’s decision to improve the margin rate, rather than the sales volume, in China caused like-for-like sales there to slip by 2.5 per cent. The Group said that it continues to invest in the digital evolution of its brands as well as in the deployment and internationalization of its new store concepts.
The 2015 results show that the group managements strategy is well adapted to meet current market conditions in Europe as well as in China.