A positive year, albeit with a lackluster third quarter; Gismondi 1754 announces the operating result for the first three quarters of the year, which marks a growth of 7% to over 10 million in revenues compared to the corresponding period of 2022. At the same time, the Genoese jewelery company listed on the stock exchange Euronext Growth Milan reports a stop for the July-September period, which saw sales of 2.3 million, down 8% compared to the third quarter of last year.
The decline in the third quarter of 2023, explains the company, was caused both by the contraction of the retail market (-44% compared to the 2022 quarter) and by the reduction in sales of the European wholesale channel (-22% compared to the 2022 quarter) and of US wholesale channel (-32% compared to the 2022 quarter). «However, all of this is partially offset by growth in Special Sales up by +74% compared to the 2022 quarter».
Despite the difficult economic moment caused by elements external to the company, I am referring to the continuation of the conflict in Ukraine and the economic and social instability at a global level, I can point out that thanks to the special business model that has already supported us during the pandemic ( our relationship of great closeness to end customers) we can present a positive result which gives us hope, but with the necessary caution, in the results for the end of the year”.
Massimo Gismondi, CEO of Gismondi 1754
