Regulatory News:
Etam Développement (Paris:TAM):
| €m | 2016-Q4 | change | change lfl 1 | at 31 Dec. 2016 | change | change lfl 1 | ||||||
| Group sales | 367.9 | 5.9% | 5.0% | 1,292.1 | -0.3% | -1.0% | ||||||
| Europe | 267.0 | 13.0% | 9.4% | 926.2 | 5.4% | 1.7% | ||||||
| China | 100.9 | -9.2% | -8.3% | 365.9 | -12.3% | -9.0% | ||||||
| Europe by country | ||||||||||||
| France 2 | 235.9 | 12.4% | 9.2% | 818.6 | 5.3% | 1.5% | ||||||
| Other | 31.1 | 17.6% | 11.1% | 107.6 | 5.4% | 2.8% | ||||||
| Europe by brands | ||||||||||||
| ETAM 3 | 220.0 | 14.1% | 10.3% | 762.2 | 5.9% | 1.9% | ||||||
| 1.2.3 | 47.0 | 8.0% | 5.7% | 164.0 | 2.8% | 0.5% |
1 like-for-like and at constant exchange rates including internet sales
2 including export sales
3 including Undiz
I. BUSINESS TRENDS
In Q4 2016, the Group net sales amounted to €367.9 million, including a negative currency effect of €5.1 million mainly due to the depreciation of the Yuan against Euro. Net sales increased by 5.9 compared to the fourth quarter of 2015. Like-for-like and at constant exchange rates, net sales increased by 5 %.
Over the full year to 31 December 2016, the Group's net sales amounted to €1,292.1 million, including a negative currency effect of €19.7 million mainly due to the depreciation of the Yuan against Euro. Net sales were nearly stable on a real basis. They were down 1 like-for-like and at constant exchange rates compared to 2015.
1. EUROPE
In Q4 2016, net sales totalled €267.0 million, up 13 or 9.4 like-for-like and at constant exchange rates.
During this quarter, in-store and e-commerce sales rose in all European and export countries, for all brands and in both lingerie and ready-to-wear. Such good performance in a difficult environment reflects the quality of execution and positioning of each of the brands.
During the full year to 31 December 2016, sales came to €926.2 million, up 5.4 or 1.7 like-for-like and at constant exchange rates.
In particular, the Group's sales in France grew significantly more than those of specialised chains* and the lingerie brands continued to gain market share.
* Source : Institut Français de la Mode at the end of December 2016
2. CHINA
In Q4 2016, net sales totalled €100.9 million, down 9.2 %, including a negative currency effect of €5.0 million relating to the depreciation of the Yuan against the Euro. Like-for-like and at constant exchange rates, net sales fell by 8.3 %.
Sales in China remained impacted by falling traffic and consumption slow-down affecting department stores. The priorities for action are those indicated at the end of the third quarter: brand repositioning, store network adaptation and development of the E&Joy brand and lingerie business in shopping malls.
During the full year to 31 December 2016, net sales totalled €365.9 million, down 12.3 %, including a negative currency effect of €19.2 million relating to the appreciation of the Yuan against the Euro. Like-for-like and at constant exchange rates, net sales decreased by 9.0%.
II. NETWORK DEVELOPMENT
At 31 December 2016, the Etam Group had 3,906 points of sales, including 988 in Europe, 2,596 in China and 322 international franchises.
In 2016, the Group (excluding China) opened 89 additional points of sale in France and abroad. The new stores are mainly involved in the lingerie business and include the opening of 11 ETAM lingerie stores in Thailand, for the first time. The 1.2.3 stores' network, in France and abroad, was expanded by 26 points of sale. During 2016, Etam launched its website for Poland and Undiz launched its own in Spain.
In China, in line with the strategy of store network adaptation, it was reduced by 281 points of sale over the period.
The Etam Group is an international retailer of women's lingerie, beauty, ready-to-wear clothing
and accessories with 3,906 points of sales as of 31 December 2016
Next releases
2016 Annual results and Q1 2017 net sales on 20 April 2017 after the market close in Paris
Etam Développement: ISIN code: FR0000035XXX Reuters: TAM.PA Bloomberg: TAM FP
Etam Développement €10 961 739 R.C.S. PARIS 308 382 035
Registered office: 78, rue de Rivoli, 75004 Paris France
View source version on businesswire.com: http://www.businesswire.com/news/home/20170126005803/en/
Contacts:
Etam Développement
Information for analysts and investors
Tel.: 01 55 90 72 79
www.etamdeveloppement.fr
