Mango Parent Company Suffered "Unexpected"

Last year, the group continued to launch the concept of "super store" in fiscal year 2013, and opened 43 large stores throughout the year. In 2015, it plans to further increase 75, plus renovation of stores, logistics and IT system. The group's investment budget this year is 300 million euros, which is unchanged from the 2014 fiscal year.

The Mango brand currently has more than 2700 shops in 109 countries.

Spanish high street fashion brand Mango parent company

MNG Holding net profit decreased by 11.2% in the 2014 fiscal year after two consecutive years of growth, from 120 million 500 thousand euros in fiscal 2013 to 107 million euros.

EBITDA profit before interest tax depreciation and amortization is 223 million euros, down 3% from 229 million 900 thousand euros in the previous year.

The profit margin dropped 100 basis points to 11.5%.

The group pointed out that Russia's political crisis and international and product expansion in the second half of last year have had an impact on last year's profits.

The group launched a new survey in mid 2014.

After the performance, the medium-term revenue target was revised down.

As part of the ten year development plan, Mango 2013 launched its children's clothing, underwear product line and big size clothing brand Violeta. Last year, it introduced a series of clothing for teenagers and mature women.

Mango CEO Enric Casi said that the new brand needs to grow longer than expected. "It will take several years to reach the unit area sales level of the traditional product line", and admitted that the 2014-17 year income expectation set in the past was too optimistic. "Now it is decided to adopt a more conservative standard to set performance targets."

So the group lowered its 2017 revenue target to 3 billion 270 million euros, down about 1/3. from its previous target of 4 billion 970 million euros.

Annual revenue exceeded 2 billion 17 million euros, an annual growth of 9.3%, and 82% of its revenue came from overseas markets.

In 2014, Mango online stores entered 12 new markets. Now online sales cover 76 national markets, pushing online sales to 9.1%.