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GEOX RESPIRA PRESS RELEASE - QI 2021 SALES SALES OF EURO 148.4 MILLION ( -18.9 % AT CURRENT FOREX , -17.4 % AT CONSTANT FOREX ) . PERFORMANCE IN THE FIRST QUARTER WAS AFFECTED BY A NUMBER OF TEMPORARY FACTORS , MAKING THE TREND RELATIVELY INSIGNIFICANT : 1 ) A HIGH PERCENTAGE OF STORES WERE CLOSED DUE TO THE VARIOUS LOCKDOWNS ; 2 ) A NUMBER OF DELIVERIES WERE POSTPONED UNTIL APRIL , AS REQUESTED BY THE WHOLESALE CHANNEL . • SOLID GROWTH IS CONTINUING IN MARKETS NO LONGER BEING AFFECTED BY TEMPORARY CLOSURES : RUSSIA + 48 % , CHINA + 54 % . ● EVEN STRONGER GROWTH RECORDED IN THE DIRECT E - COMMERCE CHANNEL ( + 85 % COMPARED WITH QI 2020 ) . ● VERY POSITIVE PERFORMANCE IS THEREFORE EXPECTED FOR THE SECOND QUARTER COMPARED WITH THE PREVIOUS YEAR , THANKS TO THE COMPLETION OF DELIVERIES AND THE GRADUAL REOPENING OF DIRECTLY OPERATED STORES . THIS TREND LEADS US TO EXPECT ALMOST DOUBLE - DIGIT GROWTH AT THE END OF THE JUNE . THE NET FINANCIAL POSITION AT 31 MARCH 2021 ( BEFORE IFRS 16 ) STOOD AT EURO -109.8 MILLION ( EURO -99.8 MILLION AT 31 DECEMBER 2020 ) . Biadene di Montebelluna , 13 May 2021 - Geox S.p.A. , a leading brand in classic and casual footwear , listed on the Milan Stock Exchange ( GEO.MI ) , today examined its sales figures and net financial position for the first quarter of the year . The Company commented : “ Sales performance in the first quarter of the year was affected by a number of temporary factors , making the trend relatively insignificant in relation to our expectations for the forthcoming quarters . In fact , during the first three months of the year , over one third of our stores were temporarily closed due to lockdowns , with a particularly significant suspension of activities in the main markets ( Italy , France , Germany and the UK in particular ) ; during the first quarter of 2020 , these markets were only partially affected by the restrictions caused by the pandemic . This situation not only affected sales generated by directly operated stores , but also had an impact on the performance of our wholesale partners , who asked for a postponement of deliveries until the second quarter . Over the last few weeks , sales are greatly improving thanks to the completion of deliveries to the wholesale channel and the gradual reopening of stores throughout the network , supported by the vaccination campaign being rolled out . We therefore expect to record a sound , almost double - digit growth in sales already by the end of June . Results over the last few months have also highlighted how channels and markets no longer being affected by pandemic - induced restrictions are now consolidating their growth . China and Russia , both high - potential markets in which the Group is investing , recorded growth of almost + 50 % compared with the first quarter of 2020 . The e - commerce channel ( + 85 % ) achieved record quarterly turnover during the first three months of the year , now accounting for over 30 % of total direct sales in this temporary situation . 1