Spanish fashion brand Adolfo Domínguez faced a loss of 2.7 million euros in the third quarter, a decrease of 0.7 million euros from the first half of the fiscal year but a 27% increase from the previous year. Despite the losses, the company achieved a cumulative revenue of 83.8 million euros from March to November 2023, experiencing a 13.2% rise in sales compared to the same period the previous year.
The brand attributes the net accumulative losses to the seasonality of the sector and substantial investments related to its expansion and digital transformation. In the last quarter (September to November), Adolfo Domínguez reported a revenue of 27.2 million euros, marking two consecutive quarters of positive net profit. During this period, it recorded an EBITDA of 4.9 million euros, contributing to an accumulated EBITDA of 9.7 million euros until November, a 25.2% increase from the previous year.
CEO Antonio Puente emphasized the brand’s strong performance, with double-digit sales growth and improving profitability. Adolfo Domínguez’s total sales increased by 13.2% in the first nine months, while comparable sales grew by 8.4%. Online sales were a standout, experiencing a 25% growth during this fiscal year.
The company, operating in 23 countries with 356 stores, highlighted the growth in sales in Europe by 10.5% and a significant surge of 19.9% beyond the continent. The gross margin from March to November increased to 51.3 million euros, and operating expenses as a percentage of sales decreased to 49.6%.
In the last complete fiscal year (2022-2023), Adolfo Domínguez achieved a total revenue of 114.2 million euros.
