(Alliance News) - Take Off Spa on Monday reported core revenues of EUR22.2 million in the first nine months of the year, up 12 percent from EUR19.6 million in the same period last year.

The group's average selling price was EUR18.58 from EUR15.96 as of September 30, 2022.

"The group's performance in the first 9 months was affected by an uncertain macroeconomic environment, high inflation and the continuation of an unfavorable weather situation that is impacting consumption. In addition, the group, as already communicated on Oct. 16, is engaged in a prudent policy of selecting and closing less performing stores in order to place them in more strategic locations for the business capable of improving the group's margins in the coming years," the company explained in a note.

Take Off on Monday closed 0.7 percent in the red at EUR0.68 per share.

By Claudia Cavaliere, Alliance News reporter

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