French group Damartex bounces back slightly in Q3 2024-25
The Q3 result 'confirmed the resilience of the group's brand portfolio and its agility in the face of a turbulent macroeconomic environment that is affecting consumer behaviour,' Damartex said in a press release.
The fashion division recorded a 1.3% revenue growth in Q3, driven by 'solid commercial momentum' in February and March. The Damart chain, after struggling for several quarters, finally reversed the trend and recorded a revenue rise (of an unspecified amount), 'thanks to its clientèle's interest in the new collections' and despite 'a downturn in January partly due to a deliberate shortening of the end-of-season sales period, thanks to improved inventory management.'
Belgian fashion brand Xandres, which lately had performed more positively, instead recorded a 3.8% revenue shortfall in Q3, which the group explained with 'a better inventory position during end-of-season sales and a new delivery schedule for multibrand clients.' Over the last nine months, Xandres posted a 3.6% increase in sales.
The Damartex fashion division's overall result over nine months was down 2.1% compared to the previous year, for a revenue of €317 million. The group's home and lifestyle division, which includes 3 Pagen, Magic Showcase, and Coopers of Stortford, grew its revenue by 3% in Q3 and by 3.7% over nine months, to €77.6 million. Finally, revenue for the healthcare division increased by 2.6% in Q3 and by 2.8% over nine months, to €21.8 million.
In February 2025, Damartex named Nicolas Marchand as board chairman and CEO. The group is hoping to become profitable again after reducing its net losses in the first half of the current fiscal year.
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