Adolfo Domínguez multiplies by almost six his losses in the first fiscal semester

The company increases its online sales by 25.5% between March and August.

Adolfo Domínguez and his daughter, Adriana Domínguez.

Adolfo Domínguez multiplied his losses by almost six times in the first six months of his fiscal year 2020-2021, closed on August 31, to reach 10.4 million euros, compared to the ‘red numbers’ of 1.8 million scored a year before, as reported this Wednesday by the company to the National Securities Market Commission (CNMV).

Likewise, the group had a turnover of 26 million euros, 50.4% less, in a context marked by the Covid-19 crisis, which also translated into a negative gross operating result (Ebitda) of 3.7 million euros , compared to the positive figure of 3.3 million euros a year earlier.

However, sales of Adolfo Dominguez grew by 187% between June and August 2020 compared to the previous quarter (March-May), thanks to the progressive reopening of its commercial network in summer and the good performance of the online channel.

The recovery of sales in the second fiscal quarter The company’s turnover has allowed it to recover, but it does not compensate for the sharp drops in the first quarter (March-May) and remains below the 2019 figures.

Channel sales online, meanwhile, cthey received 25.5% compared to the previous year, maintaining the growth path of recent months.

In its commitment to the growth of e-commerce, the company renewed its online store in September. The company has highlighted that the “strong” digital growth of the firm contributes 21.8% of its turnover.

Global lockdown in spring 2020 It has been a parenthesis in the upward trajectory towards profitability of our company. In the summer months we were able to reactivate sales thanks to the reopening of our commercial network and we maintained a very good functioning of the online store. Still, for now, the entire March-August period is well below our normal figures. As of today, we have 91% of our active commercial network ”, explained the general director of the group Adolfo Domínguez, Antonio Puente.

Adolfo Domínguez’s sales fell in all the markets in which the firm operates. In Spain, reduces your accumulated sales by 36% until August, with a better performance than the whole of its sector, which presents an average drop of 41%, according to data from the Textile Trade Association (Acotex).

Commercial network

The company develops a plan to optimize your business network adapted to the coronavirus crisis with the opening of two new stores in Colombia and one in Portugal in the last month.

The plan eliminates eleven duplications of stores in Spanish provinces and includes the amortization of 20 points of sale managed by the international group Gin Group in Mexico after undoing their alliance.

Likewise, the international area is reinforced with the appointment of Anabel Rúa López, from Parfois, as the new International Director.

Adolfo Domínguez has an annual turnover of 115 million euros and employs 1,209 professionals (2019-2020 financial year). The firm markets its garments in 351 points of sale in 20 countries.