After concluding a more than six-month-long reconstruction process on Feb. 13, Footway, with twelve e-commerce platforms in its portfolio, has released its sales figures for the first quarter, covering January through March. The year started off on a challenging note, with sales more than halved. Revenue amounted to SEK102 million (€8.8 million) compared to last year’s quarterly sales of SEK 216 million (€18.6m).
The decline is attributed, in part, to the company’s inability to make sufficient purchases during the reconstruction period, leading to a lack of supply for winter and spring products. Additionally, the total number of visitors was halved, and new customer acquisitions decreased. In early January, all goods were transferred from the Helsingborg warehouse to the central warehouse in Eskilstuna, Sweden.
The operating profit, Ebitda, for the quarter amounted to SEK 142 million (€12.3m) compared to SEK -24.5 million (€-2.1m) in the same quarter last year, and the solidity strengthened from 14 to 41 percent.
Ahead of the annual general meeting on May 23, David Holender is proposed for election as Jakob Mörndal has declined re-election.
