Companies

Geox narrows full-year loss despite sales decline

Mar 20, 2026 Italy

The Italy-based footwear group reported mixed results for 2025. Declining sales were offset by improvements in profitability, reflecting the initial success of its restructuring strategy

“2025 was for Geox a year of deep revision of the operating model, leading to a significant reduction of the cost base, the first benefits of which have already emerged during the financial year just ended. In a market environment still impacted by a contraction in sector consumption (…), the initiatives undertaken have already delivered tangible results: the net loss for the year was halved compared to 2024, and the bank debt significantly reduced, standing at Euro 92.6 million”, said the Chief Executive Officer Francesco Di Giovanni.

Full-Year Results

In 2025, the footwear group recorded consolidates sales of 608.7 million euros, which reflects an 8.3% decrease (or 8.5% at constant exchange rates) compared to the previous year. Excluding the impact of the closure of the subsidiaries in China and US, and of certain non-profitable channels, the decline was 5.3%.

Last year, sales in Italy totalled 179.2 million euros, which is a 4.5% year-on-year decline and accounted for 29.4% of the group’s revenue. This decline was primarily driven by weaker wholesale and retail performance (down by 8.7% and 4.1%, respectively), partially offset by growth in digital sales (up by 5.4%).

Geox generated full-year sales of 290.7 million euros in Europe, which accounted for 47.8% of total revenue. This figure was down by 3.2% year-on-year (or 3.1% at constant exchange rates), mainly due to weaker wholesale performance in Germany, France, and the Iberian Peninsula, which was partially offset by growth in retail, particularly in France and the Benelux countries.

Meanwhile, sales in “other countries” totalled 138.7 million euros in 2025, representing a year-on-year decline of 21.1% (or 21.7% at constant exchange rates) and accounting for 22.8% of the total revenue. This decline is due to the closure of operations in China and the US, as well as weaker performance in Russia. This was partly offset by solid growth in the Middle East and Africa regions.

Despite a contraction in sales, Geox maintained stable profitability, supported by a restructuring plan implemented in the second half of 2025 which delivered cost savings of 27.4 million euros. Consequently, adjusted EBIT remained consistent with the previous year, standing at 9.0 million euros (compared to 8.8 million euros in 2024).

The group's full-year net loss almost halved to 16.2 million euros, primarily due to lower financial expenses and favourable currency effects. These figures highlights improved financial discipline and the initial impact of efficiency measures.

Outlook

Geox remains cautious about its outlook, citing continued macroeconomic uncertainty, geopolitical tensions, and weak consumer confidence. As a result, sales are forecast to decline by a low single-digit percentage in 2026, reflecting market conditions and the ongoing rationalisation of low-margin channels.

However, the company expects to maintain balanced profitability with an adjusted EBIT margin of 2 to 3% in 2026, supported by further efficiency measures and cost savings of between 8 and 9 million euros, while preparing an update to its industrial plan.

Image Credits: geox.com

Italy Companies Footwear Geox Results Year Results