Earnings call transcript: Geox Group Q3 2026 sales fall as debt drops

Geox Group reported a 11.7% year-over-year decline in nine-month sales to EUR 435 million in Q3 2026. This decline was attributed to weak demand and deliberate channel rationalization. The company also saw a significant drop in bank debt, falling to EUR 49.7 million from EUR 92.6 million, and inventory decreased to EUR 145 million from EUR 225 million.

Operating working capital improved to 20% of sales. Despite the weaker sales, Geox remains optimistic about its full-year adjusted EBIT margin, expecting it to be around 3% to 4%. The company announced a stable distribution network and plans to launch new product lines, including a new kids collection. However, the market reaction to the earnings call was cautious, with Geox shares rising only 1.44% to $0.281, close to the lower end of its 52-week range.