Geox posts profit growth in FY17, names Matteo Macsazzini its new CEO

Geox S.p.A. has said that the company’s 2017 consolidated net sales amounted to 884.5 million euros (1,089 million dollars) were in line with last year, down 1.8 percent at current forex and 1.7 percent at constant forex with the growth of the wholesale partially compensating for the planned optimization of the mono-brand store network. The EBITDA adjusted was 74 million euros (91 million dollars), 8.4 percent on sales compared to 52.8 million euros (65 million dollars) of 2016, 5.9 percent on sales. On February 1, 2018, the company's board appointed Matteo Mascazzini as the new Chief Executive Officer.