Gren its volume of business* for fiscal years 2022 and 2023 is null and void.
The company had previously communicated on an objective of growth in business volume* of more than 10% per year until 2024. This revision follows confirmation of the slowdown in consumption in the online fashion segment, observed in particular during the month of October. Many cyclical factors are adding up and impacting consumer morale, reducing the overall sales momentum of most players in the sale of fashion items. The impact of inflation on consumption will remain difficult to predict over the next 18 months.
Spartoo also reaffirms the soundness of its financial structure with cash of €26 million, a net debt position of -€0.6 million and gearing of -1.8% as of June 30, 2022.