GERMANY: Gerry Weber forecasts full-year sales rise
German women's wear retailer Gerry Weber has said it expects full-year sales to be in line with its previously revised guidance, forecasting growth of 6.2%.
The company today (30 January) said it expects full-year sales revenues to reach EUR852m (US$1.2m), up from EUR802.3m in the same period of the prior year.
Gerry Weber attributed the forecasted growth to the expansion of its own retail activities and new sales space in Germany and abroad.
Earnings before interest and taxes (EBIT), however, is expected to fall 8.7% to EUR105.8m, from EUR115.9m in the previous year, after unfavourable weather resulted in lower footfall at city centre stores in Central Europe.
For the fiscal year 2013/14, Gerry Weber said it expects sales revenues to increase 5.6% to EUR900m, and EBIT to reach least EUR120m.
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