{"id":2041,"date":"2023-10-19T08:30:11","date_gmt":"2023-10-19T06:30:11","guid":{"rendered":"https:\/\/www.woodspac.cz\/?p=2041"},"modified":"2023-10-19T08:48:48","modified_gmt":"2023-10-19T06:48:48","slug":"the-footshop-group-has-recorded-a-year-on-year-revenue-increase-of-16-from-its-primary-sales-channels-during-the-first-8-months-of-2023-additionally-they-launched-a-new-mobile-application-and-opened","status":"publish","type":"post","link":"https:\/\/www.woodspac.cz\/en\/the-footshop-group-has-recorded-a-year-on-year-revenue-increase-of-16-from-its-primary-sales-channels-during-the-first-8-months-of-2023-additionally-they-launched-a-new-mobile-application-and-opened\/","title":{"rendered":"The Footshop Group has recorded a year-on-year revenue increase of 16% from its primary sales channels during the first 8 months of 2023. Additionally, they launched a new mobile application and opened a luxury retail store in Bratislava."},"content":{"rendered":"

Prague, October 19, 2023 – The consolidated total revenues of the Footshop Group for the first 8 months of 2023 reached 650 million CZK, representing a year-on-year growth of 1,4%. The major share of revenues (more than 80%) was attributed to online sales channels and brick-and-mortar stores. Together, revenues from these sales channels experienced double-digit growth, despite a year-on-year decline in the Czech e-commerce market.<\/strong><\/p>\n

The most significant challenge faced was the decline in revenue from the Footshop Releases platform since the beginning of the year. However, the company successfully managed to offset the decline.<\/p>\n

Peter Hajdu\u010dek, CEO of Footshop, explains the impact of this development: \u201cWith adidas discontinuing the cooperation with Kanye West and other brands not having such hot products in our segment, we lost 20 million CZK of contribution margin from this channel. We are already working on replacing it by getting access to other brands and collections that could substitute yeezy.<\/em>\u201d<\/p>\n

The Footshop Group substantially increased its operational profit, measured by Adjusted EBITDA, with a year-on-year growth of approximately 14 million CZK. Adjusted EBITDA increased from -1.4 million in 2022 to 12.4 million in 2023.<\/p>\n

Peter Hajdu\u010dek commented on this development, stating, “I am happy that thanks to the growing revenue of our core business by 16% year-on-year in the given period and strict management of the fixed cost, we managed to not only compensate for the loss but even increase Adjusted EBITDA by approximately 14 million CZK.<\/em>“<\/p>\n

With the infusion of new capital, the company intends to embark on a new, significant chapter in its twelve-year history. A portion of the funds has been immediately used to reduce the company’s financial expenses. Other funds have been utilised to establish a new brick-and-mortar store in Bratislava and launch a mobile application that enhances user experience. The full impact of the new capital injection will be more evident in the upcoming period.<\/p>\n

“In the coming months, we plan to open a flagship store in Warsaw and a Queens store in Prague. We are introducing our private label, with the goal of achieving a minimum of 15 million CZK revenue in 2024. Additionally, we plan to add a new ‘Active’ category to our website, with a primary focus on running and trail activities,<\/em>” Peter Hajdu\u010dek revealed the company’s plans for the further utilization of financial resources.<\/p>\n

For a detailed presentation of the company’s results and plans, please visit the following link: Results of the Footshop group for the first 8 months of 2023 19.10.2023<\/a><\/p>\n

Footshop is a European retail seller of premium streetwear footwear and clothing, founded in Prague by Peter Hajdu\u010dek in 2012. The company primarily sells products online in Europe, but its e-shop is accessible worldwide. Revenues for the year 2022 exceeded 1 billion CZK, with 70% coming from countries outside the Czech Republic. Footshop also operates four premium brick-and-mortar stores in European capitals, including Prague, Budapest, Bucharest, and Bratislava. The company focuses on the young streetwear community and collaborates with global brands such as adidas, Nike, Converse, and Vans to distribute their premium footwear and clothing lines, some of which are exclusively available through Footshop. In several markets, including the Czech Republic, Footshop is a leader in the premium streetwear footwear and clothing segment. In 2021, Footshop acquired its main competitor in the Czech Republic, Queens, and continues to operate an e-shop under that brand name.<\/p>\n

Media contact:<\/strong>\u00a0investor.relations@footshop.cz<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Prague, October 19, 2023 – The consolidated total revenues of the Footshop Group for the first 8 months of 2023 reached 650 million CZK, representing a year-on-year growth of 1,4%. The major share of revenues (more than 80%) was attributed to online sales channels and brick-and-mortar stores. Together, revenues from these sales channels experienced double-digit growth, despite a year-on-year decline in the Czech e-commerce market. The most significant challenge faced was the decline in revenue from the Footshop Releases platform since the beginning of the year. 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