EXEC: Decathlon Boasts Robust Growth for 2023 Despite Market Headwinds

Source:China Sport ShowRelease time:18-Apr-2024Clicks:

Article From：sgbonline

France-based sports retailer Decathlon posted a solid year-over-year gain for 2023, with sales up 1.2 percent in reported euro terms to €15.6 billion for the year, or an increase of 4.4 percent in constant-currency terms. Revenues were €15.4 billion in 2022. The retailer said in a media statement that the small increase was possible despite persistently high inflation throughout the year.

E-commerce revenues, connected in-store orders, and external marketplaces accounted for 17.4 percent of total sales for the year.

Net profit for the year was up less than one percent to €931 million.

The company acknowledged that the foreign exchange rate effects, as well as the cessation of commercial activities in Russia, resulted in the limited increase in reported revenues.

“In 2023, companies around the world operated in unprecedented circumstances,” said Barbara Martin Coppola, CEO, Decathlon. “At Decathlon, we have made the choice to use this moment to act and to transform ourselves. We laid many foundations for the future and I’m pleased with the result that we achieved. This is a testament to the dedication and commitment of our teammates.”

Decathlon in mid-March said it intended to make significant reductions in its brand portfolio, a change of logo and a desire to position itself “sports brand,” rather than a sports store.

In February, Decathlon reported that Realty Income Corporation entered into a sale-leaseback transaction for 82 retail properties leased to affiliates of Decathlon SE. The portfolio includes properties in Germany, France, Spain, Italy, and Portugal. The deal was worth €527 million.

Founded in 1976 by Michel Leclercq, Decathlon is majority-owned by AFIR and Association Familiale Mulliez, the largest retail conglomerate in France.

Decathlon employs 101,000 people and has 1,750 shops in more than 70 countries, including 27 in Europe, 14 in Asia, and four in Latin America. The company ended 2023 with one less store than 2022.