Global Fashion Group SA (OTCPK:GLFGF)
$ 0.25 0 (0%) Market Cap: 54.29 Mil Enterprise Value: -47.73 Mil PE Ratio: 0 PB Ratio: 0.22 GF Score: 44/100
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Q2 2024 Global Fashion Group SA Earnings Call Transcript

Aug 14, 2024 / 07:00AM GMT
Release Date Price: $0.25
Christoph Barchewitz
Global Fashion Group SA - Chief Executive Officer, Member of the Management Board

Good morning, everyone, and welcome to Global Fashion Group's Q2 2024 results presentation. I'm Christoph Barchewitz, CEO of GFG, and I'm joined today by our COO, Gunjan Soni; and our CFO, Helen Hickman. I will start with the highlights and then Gunjan and I will cover our regional results and key developments. Helen will then take us through the group results and outlook. After that, we'll open it up for Q&A.

In Q2, we continued to make important changes to our business as we navigated market demand challenge. The rate of our active customer decline has started to reduce compared to the past few quarters as a result of our customer expansion and engagement efforts. NMV has also decreased at a slower rate, reflecting the continued subdued demand environment.

However, our operational efficiency has had a positive impact. Gross margin expanded primarily due to stronger performance of our retail business, as you know, reduce the amount of discounting compared to this time last year.

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