EUROPEAN sales of major distribution group Etam rose by 3.6 per cent to EUR 443.8m in the first half of its current fiscal year. This was said to be almost stable in like-for-like terms at constant exchange rates. During that period the group’s same-store sales of intimate apparel outperformed the market but its ready-to-wear business suffered severe decline. In China, negative currency effects caused net sales for the period to decline by 12.5 per cent, and by 6.9 per cent in like-for-like terms at constant exchange rate, to EUR 190m.
Each successive performance report by the group strengthens the case for a merchandising strategy more closely focused on intimate apparel.