Dear Madam, Dear Sir, Dear Investor,
In a context of high inflation and significant slowdown in demand affecting all players in the consumer sector, the dedication and commitment of Spartoo's teams enabled us to improve our operating cash-flow over the half-year. The optimization of our marketing investments combined with the reduction of inventory in value on our B2C Online activities enabled us to limit the decline in revenue while significantly improving our EBITDA and operating cash-flow. Our own brands, our points of sales and our third-party services also achieved double-digit growth over the half-year, underlining the economic relevance of our multi-channel model.
Our strategy, focused on customer service excellence and balanced development between our own brands and international ones, between online and offline complementarity, and on a strong international presence, ensures our tangible resilience in the current environment. We aim to achieve positive free cash flow in full-year 2023, despite a difficult back-to-school period.
Boris Saragaglia, Spartoo's co-founder, Chairman and Chief Executive Officer
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