Financial Information
Half-year of the financial year 2025 - 2026March 12, 2026
Executive summary
Focus on improving fundamentals
Improved profitability and cash generation, supporting the deleveraging trajectory
- Operational transformation in progress, in line with the Dare.Act.Impact.2026 plan
- High customer and employee engagements, supported by numerous initiatives around customer experience, leadership and training
- Strengthening of the CSR approach, with structuring progress and tangible results on CSRD issues
In a context under strong tension with limited potential for revenue development.
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Agenda
- Market trends
- Highlights of the first half
- Financial Results
- Outlook
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1. Market trends
4
Fashion Industry Trends
Contraction in market value and intensification of competition
France 2025 : -1,6 % in value
Competitive intensification: ultra-fast fashion & second-hand
Compression of the average basket: majority of textile
purchases concern "entry-level" products
Increased sensitivity to promotions
Strong pressure on physical networks vs. more resilient ecommerce globally
