Adolfo Dominguez sales grow for 6th consecutive quarter

Spanish group Adolfo Dominguez continues its growth streak and announces its 6th consecutive quarter of sales growth since the management reshuffle in 2016.

In recently submitted documents, the designer brand reported revenues of 77.9 million euros ($93m) between March and November 2017, representing a 6.6% increase compared with the same period in the previous year.

Store sales continued to grow at a faster rate than total revenue due to the efficiency and management measures introduced in recent months.

Store sales increased by 9.5% during the period, and the company made 4.8 million euros ($5.75m) more in revenue in the first nine months of the year, despite having closed 31 stores.

The annual report also reveals a 52.3% increase in operative profit, while attributable net profit improved by 40.8% from a loss of 11.9 million euros to a loss of 7.1 million ($8.5m)

The group ended 2017 with more than 490 stores in 30 countries, and comparative sales growth across all markets. In Mexico, the company saw a 15.2% rise, while sales climbed 10% in Europe and 1% in Japan.

Adolfo Dominguez shares rose by 62.2% during 2017, from the last day of financial year 2016 until the last day of financial year 2017.

One of its 6,800 shareholders, Indumentaria Pueri, reported on January 4 it had upped its stake in the Spanish business from 5.4% to 8.5%.

In recent months, Adolfo Dominguez has also focused on renovating its senior leadership team with the appointment of Maria Teresa Aranzabal Harreguy as independent director.

And it made steps towards its gender parity commitment with women now accounting for 43% of its board and 58% of its executive team.

The group has 1,405 employees and generated 110 million euros ($131m) in financial year 2016/17.