- Prachi Singh |
According to preliminary figures, Gerry Weber International AG generated consolidated sales revenues of 880.9 million euros (1,096 million dollars) in the fiscal year 2016/17. The company said, at 2.2 percent, the decline in sales revenues on the previous year is within the planned range of a decline of 2 percent to 4 percent. Preliminary group EBIT reported of 10.3 million euros, the company added, are also within the projected range of 10 million euros to 20 million euros (12 to 24.9 million dollars). Adjusted for one-time effects resulting from the Fit4Growth realignment programme, EBIT (adjusted) amounted to 19.9 million euros (24.7 million dollars).
Sales revenues of the Gerry Weber core brands declined by 4.4 percent to 686.6 million euros (855 million dollars) in the reporting period from November 2016 to October 2017. The Gerry Weber core wholesale segment contributed 294 million euros (366 million dollars) compared to 298.4 million euros (371.6 million dollars) last year, to total core revenues, while the Gerry Weber core retail segment contributed 392.6 million (488.7 million dollars) against 419.2 million euros (521.8 million dollars) last year.
Gerry Weber wholesale declines by 1.5 percent, retail by 1.9 percent
Declining by 1.5 percent, Gerry Weber said, sales revenues of the Gerry Weber core wholesale segment showed a better trend than had originally been expected in view of the weak market environment of the German fashion industry. Sales revenues of the Gerry Weber core retail segment were affected by the closure of another 68 stores in FY 2016/17. Corresponding to the decline in sales revenues of the German fashion retail sector by approximately 2 percent, like-for-like revenues of the Gerry Weber core retail segment dropped by 1.9 percent.
HallHuber, the wholly-owned subsidiary, contributed 194.3 million euros (241.8 million dollars) or around 22.1 percent to total revenues of the Gerry Weber Group.
The company added that in spite of the successful implementation of the Fit4Growth realignment programme and the related reduction in personnel and operating expenses, it has been unable to improve the group’s earnings compared to the previous year. The reduced Gerry Weber core retail revenues and investments in the quality and perceived value of the company’s products as well as in the IT infrastructure and logistics, Gerry Weber said, had an adverse impact on the operating result.