(AOF) – In 2023, Spartoo will post a turnover of 142.9 million euros, down 4.1% year-on-year. The specialist in the sale of online fashion items underlines that its adjusted Ebitda has become positive again in 2023 at 1.9 million euros, or 1.3% of turnover. The consolidated net loss amounts to 1.9 million euros compared to 4.6 million euros in 2022. The commercial margin stands at 59.1 million euros in 2023, or 41.4% of the turnover. business, compared to 42% in 2022. At the end of December 2023, its cash flow amounted to 14.3 million euros compared to 9.4 million euros a year earlier.
Furthermore, turnover linked to brands acquired by the group is up 21% compared to 2022, driven both by the organic development of wholesale customers and the acceleration of their digitalization.
“In a particularly difficult market context, particularly for e-commerce players and more generally for the clothing and distribution sector, subject to the impact of the sharp drop in purchasing power, The results we publish demonstrate the resilience of our balanced model in terms of offer, geographic reach and distribution network” declares Spartoo CEO Boris Saragaglia.
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Sector sheet – Internet
An increasingly competitive online search for Google
Google has dominated online search for more than two decades. It earns more than half of its revenue from advertising on its search engine. The second player, Bing, owned by Microsoft, remains far behind, with less than 9% of the global market. However, Bing benefits from a huge advantage: Microsoft’s results do not depend closely on the performance of its search engine, but rather on its sales of software and services to businesses with its Azure branch. The group can therefore be more agile and take risks. Other serious competitors are gaining strength. Amazon’s search engine for finding products shows a jump in advertising revenue. Likewise, the TikTok application is increasingly used by young people to search for information.
Find out more about the “mass distribution” sector
Two major challenges for the sector
The turnover of distribution brands increased by 6.6% in the third quarter of 2022 according to the IRI panelist. Such a performance had not been recorded since the confinements of 2020. However, since the end of September, volumes have declined following the increase in prices. The results of French players, rather spared until now, should therefore suffer. Moreover, in the United States, Walmart and Target have issued warnings about their results.
Another challenge: logistical disorganization. According to NielsenIQ data, the out-of-stock rate increased further on the shelves to reach 5.8% at the end of October. This represents a shortfall of 3.5 billion euros since the start of the year. According to Système U, these disorders have never been observed for more than fifty years. The reasons are multiple: both climatic, geopolitical, logistical, inflationary, and also linked to the behavior of consumers, who stock certain items. On the other hand, the strike in the refineries seems to have had little impact because the brands managed to organize themselves.