GERMANY: Gerry Weber FY profit dips on “difficult” market
- FY net profit down 10% to EUR71m
- Revenues rise 6.2% to EUR852m
- Retail revenues surge 21.4% to EUR363.7m
Weather-related market difficulties sent full-year net profit down by 10% at German fashion house Gerry Weber International, but the company is set to continue its international expansion.
Confirming a 6.2% revenue rise in the 2012/13 financial year, Gerry Weber highlighted a surge in retail sales, boosted by the opening of 68 new stores and 47 new concessions, plus a 16.5% rise in e-commerce sales.
Meanwhile, gross margin was 53.7%, slightly up on the previous year.
The company signalled its intention to continue to open 65-75 new stores a year in the coming years, with a particular focus on overseas markets.
It expects 2013/14 revenues to reach EUR900m, with EBIT rising to EUR120m.
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