GERMANY: Gerry Weber Profit Slips 6.6%, Sees Tough 2003
Women's fashion manufacturer and retailer Gerry Weber International AG on Thursday posted a 6.6 per cent slide in full-year net profit to 15.5 million euros from 2001 and said it will open dozens of new stores in 2003. The company, Germany's third largest women's clothing producer, said in a news release sales for the 12 months to October 31 were flat at 395.4 million euros while it took an 8.6 million euro charge for restructuring activities.
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