Adolfo Domínguez sees third year of profit with 2024 sales up nearly 8%
Adolfo Domínguez, a Spanish fashion brand known for its minimalist aesthetic and the slogan 'Wrinkles are beautiful,' closed fiscal 2024 on a positive note. The company increased its sales by 7.8% to reach €136.5 million, while net profit rose 24.4% year-over-year to €0.9 million. This marks the group's third consecutive year of positive results, although EBITDA declined 2.6% to €16.9 million.
As reported Thursday to Spain's Comisión Nacional del Mercado de Valores (CNMV), the brand recorded local currency sales growth 'in every market where it operates' for the fiscal year spanning March 2024 to February 2025: up 9.4% in Europe, 9.5% in Mexico, 2.4% in Japan and 12.1% across the rest of its international markets.
Europe remains the company's core business region, with Spain and Portugal as its most important markets. Sales rose by 8% in Spain and 24% in Portugal.
While Adolfo Domínguez's 7.8% revenue growth is strong, it reflects a slower pace than the previous fiscal year, when the brand reported an 11% increase in sales and nearly quadrupled its annual profit.
Gross margin reached €76.6 million but was impacted by 'higher logistics costs tied to a supply chain increasingly affected by geopolitical disruptions,' according to the company. Total expenses amounted to €63.1 million, with operating expenses accounting for 46.2% of sales—1.4% less than the previous year.
The company continued expanding its retail network, opening 25 new stores during the year, 43% of which were in Europe. It also completed seven relocations and five store renovations. The brand's e-commerce business, which operates in 31 markets, posted a 25.4% year-on-year increase.
'We closed a year marked by rising demand for our collections despite the challenging geopolitical environment, which increased supply chain costs and impacted profitability,' said Adriana Domínguez, executive chairwoman of the brand.
Alongside its financial results, the Galicia-based group announced the departure of CEO Antonio Puente. Íñigo de Llano has been appointed general manager. He joins the company from Inditex, where he previously served as international director for Zara 's parent company in Europe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Euronews
11 hours ago
- Euronews
'Invest in defence now or start learning Russian later'
The US administration has appointed Lt. Gen. Alexus G. Grynkewich as both the next top US general in Europe as well as the SACEUR. The appointment by Trump will be especially welcomed following media reports in recent months that the US was considering relinquishing the role of SACUER which has always been appointed by a US president to NATO. "It's a very important decision and there is relief from NATO's point of view as it's a positive sign of American engagement and staffing," a US-based source familiar with the issue told Euronews. US Army General Dwight D. Eisenhower was NATO's first SACEUR in 1951, and the role has remained with the US ever since. 'Upon completion of national confirmation processes, Grynkewich will take up his appointment as the successor to General Christopher G. Cavoli, United States Army, at a change of command ceremony at the Supreme Headquarters Allied Powers Europe in Mons, Belgium, expected in the summer of 2025,' a statement from NATO read. New targets in defence spending adopted Meanwhile, NATO defence ministers agreed to a significant surge in defence capability targets for each country, as well as moving to spending 5% of GDP on defence. They've agreed that 3.5% of GDP would be used for 'core defence spending' - such as heavy weapons, tanks, air defence. Meanwhile 1.5% of GDP per year will be spent on defence- and security-related areas such as infrastructure, surveillance, and cyber. However, the full list of flexibility has not yet been negotiated. 'These targets describe exactly what capabilities Allies need to invest in over the coming years,' NATO Secretary General Mark Rutte told journalists. The US has been pushing NATO allies to dramatically increase spending, and expects to see 'credible progress' immediately, according to US Ambassador to NATO Mathew Whitaker. 'The threats facing NATO are growing and our adversaries are certainly not waiting for us to re-arm or be ready for them to make the first move," 'We would prefer our Allies move out urgently on reaching the 5%,' he told journalists in a briefing on the margins of the meetings. Ambassador Whitaker also said the US is 'counting on Europe' to the lead in providing Ukraine with the 'resources necessary to reach a durable peace' on the continent. Mark Rutte reiterated NATO's recent warnings that Russia could strike NATO territory within the next couple of years. 'If we don't act now, the next three years, we are fine, but we have to start now, because otherwise, from three, four or five years from now, we are really under threat," he said, adding: "I really mean this. Then you have to get your Russian language course out, or go to New Zealand.' 'It's good to have continuity about the US in NATO, but with Ukraine it's a different story. I just don't think Trump really cares about Ukraine," the US-based source told Euronews. 'Trump just doesn't care about Europe – it doesn't make him richer or help him politically,' the source said. Referring to the forthcoming NATO summit taking place next month in The Hague, the source said the presence of Ukraine at the summit "will likely be scaled back", since the US will say, "they're not members' so they don't need to be there".
Fashion Network
11 hours ago
- Fashion Network
G-III Apparel Q1 results
G-III Apparel announced on Friday a 4% decline in sales to $583.6 million in the first quarter, hurt by the U.S. fashion firm's returning of its Calvin Klein and Tommy Hilfiger licenses to parent PVH Corp. However, the New York-based company reported double-digit growth of its key owned brands, namely DKNY, Karl Lagerfeld and Donna Karan, which helped net income for the quarter ended April 30 rise to $7.8 million, or $0.17 per diluted share, compared to $5.8 million, or $0.12 per diluted share. "'G-III delivered solid first quarter results, marked by earnings that exceeded the high end of results underscore the strong demand and desirability of our brand portfolio and are a testament to our team's outstanding execution," said Morris Goldfarb, G-III's chairman and chief executive officer. Looking ahead, the fashion firm withdrew its full-year earnings forecast due to the uncertainty around U.S. tariffs and related macroeconomic conditions. The company expects the unmitigated cost of tariffs on goods imported into the U.S. will accrue additional expenses of approximately $135 million, which is expected to mostly affect the second half of the year. "We are reaffirming our net sales guidance for fiscal 2026 and working diligently to mitigate the impact of tariffs. Our experienced management team has a proven track record of successfully navigating periods of uncertainty, and we view the ongoing disruptions as an opportunity to strengthen our competitive position and capture incremental market share. As we advance our strategic priorities, we have never been more confident in the global resonance of our brands and the significant growth potential ahead to drive long-term profitability and shareholder value," concluded Goldfarb. G-III Apparel owns DKNY, Karl Lagerfeld, Donna Karan, G.H. Bass and Vilebrequin brands, and licenses over 20 brands including Nautica, Halston, Converse, BCBG and National Sports leagues, among others.
Fashion Network
13 hours ago
- Fashion Network
G-III Apparel Q1 results
G-III Apparel announced on Friday a 4% decline in sales to $583.6 million in the first quarter, hurt by the U.S. fashion firm's returning of its Calvin Klein and licenses to parent PVH Corp. However, the New York-based company reported double-digit growth of its key owned brands, namely DKNY, Karl Lagerfeld and Donna Karan, which helped net income for the quarter ended April 30 rise to $7.8 million, or $0.17 per diluted share, compared to $5.8 million, or $0.12 per diluted share. "'G-III delivered solid first quarter results, marked by earnings that exceeded the high end of results underscore the strong demand and desirability of our brand portfolio and are a testament to our team's outstanding execution," said Morris Goldfarb, G-III's chairman and chief executive officer. Looking ahead, the fashion firm withdrew its full-year earnings forecast due to the uncertainty around U.S. tariffs and related macroeconomic conditions. The company expects the unmitigated cost of tariffs on goods imported into the U.S. will accrue additional expenses of approximately $135 million, which is expected to mostly affect the second half of the year. "We are reaffirming our net sales guidance for fiscal 2026 and working diligently to mitigate the impact of tariffs. Our experienced management team has a proven track record of successfully navigating periods of uncertainty, and we view the ongoing disruptions as an opportunity to strengthen our competitive position and capture incremental market share. As we advance our strategic priorities, we have never been more confident in the global resonance of our brands and the significant growth potential ahead to drive long-term profitability and shareholder value," concluded Goldfarb. G-III Apparel owns DKNY, Karl Lagerfeld, Donna Karan, G.H. Bass and Vilebrequin brands, and licenses over 20 brands including Nautica, Halston, Converse, BCBG and National Sports leagues, among others.
