300
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
Jul 31, 2013
Download
Download the article
Print
Text size

Geox looks to emerging markets to return to profit

By
Reuters
Published
Jul 31, 2013

MILAN, Italy - Italian "breathable" shoe maker Geox plans to return to growth by closing unprofitable stores, pushing harder into emerging markets and cutting costs through layoffs and a reduced product offering, the company said on Tuesday.

Geox shoes | Source: Geox

Geox forecast continued pressure on its operating profit margin for the rest of 2013 as it posted first-half earnings before interest, tax, depreciation and amortisation down 53 percent to 26.8 million euros ($35.51 million).

Sales in Italy, where Geox makes over a third of its revenue, dropped more than 20 percent from a year earlier as recession-hit customers in the medium-price bracket where it aims its shoes and apparel avoided the shops.

Geox said it wanted to expand in China, Hong Kong and Russia and would close under-performing stores "aggressively" to reverse a slump in total sales, which declined by 10 percent, in line with a forecast the company made in May.

"Our strategy is to clean up our network once and for all in a total manner," Chief Executive Giorgio Presca said on a conference call.

The company said it was negotiating 71 redundancies in Italy and would reduce the clothing range it offers alongside its staple shoes, which aim to blend style and comfort and make up around 85 percent of revenue.

Geox will outline a detailed business plan in November.

© Thomson Reuters 2024 All rights reserved.