revised its full-year revenue forecast down to 418 million euros from 429.6 million euros it forecasted in August, the company said. In addition, the Paris-based firm said revenue in the second half was negatively impacted by delivery delays. “Revenue could have been better, without the temporary postponement of deliveries amounting to 5 million euros in the second half, owing to a logistics delay at a supplier in Italy,” the firm said in a statement released Wednesday.
The firm confirmed first-half revenue fell 7.8 percent to 204.4 million euros. In August, the company said that while its home market sales in ) slid 6.6 percent and 6.7 percent respectively in the second quarter of the year, versus the same period a year earlier. In the period, total retail sales came to 385.2 million, which was down 3.5 percent at current exchange rates.
Retail sales across all brands, including franchises, fell 3.6 percent to 299.8 million euros compared with 311.1 million in the first half of last year.Net profit in the period slid to 8.1 million euros from 19.6 million euros in the first half of 2023, whilebefore interest, taxes, depreciation and amortization plummeted 26.6 percent to 36.6 million euros. The firm also said that full-year EBITDA would be down by 15 to 20 percent in 2024 versus 2023.
Looking ahead, the group said it will continue opening directly operated stores over the next year — “albeit at a slower pace than 2023.” Following the opening of a second store in Toronto at the end of June, the group plans to open stores in Montreal-Royal Mount, also in Canada, as well as a store in Las Vegas and one in Austin.