(BFM Bourse) – In the midst of a purchasing power crisis, Spartoo is in difficulty. The French specialist in the sale of fashion items online saw its accounts fall into the red at the end of the first six months of the 2022 financial year. The file is sanctioned on the stock market and is now evolving on new historic lows.
Being a player in online and physical distribution is not always easy. Consumers are increasingly attentive to the waltz of labels and arbitrate their spending on the most essential goods, to the detriment of clothing and shoes.
Spartoo is therefore on the front line of the slowdown in household consumption. The French specialist in the sale of fashion items online saw its turnover fall by 1% to 73.9 million euros over the first six months of the year. The business volume amounted to 104.3 million euros, down 1.6% compared to the same period last year.
A quest for notoriety that is expensive
The group has accelerated its advertising expenditure for an amount of 3.3 million euros in order to develop its notoriety. These investments weighed heavily on the adjusted gross operating profit since it fell into the red at 3.1 million euros while it was still positive at 2.7 million euros one year. earlier. The net result follows the same trajectory. The net loss thus stands at 4.6 million euros in the first half against a profit of 1 million euros generated a year earlier.
A price divided by more than 5 since the IPO
In this context, management has not ventured to deliver the slightest quantified outlook for the current year. This tipping of the accounts in the red and the lack of visibility on the prospects are both sanctioned on the stock market. The title lost more than 7% to the historic level of 1.20 euros around 3:50 p.m., which brings its fall to 82% since its IPO in early July 2021 at a price of 6.53 euros.
The action of the online shoemaker is neglected like other listed companies whose activity depends heavily on household consumption. The rise in prices weighs on household consumption and the results of the brands concerned.
Sabrina Sadgui – ©2022 BFM Bourse
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