GERMANY: Gerry Weber retail growth back on track
Women's wear retailer Gerry Weber says it is back on a growth trajectory after fourth quarter sales surged 22%.
Helped by a weather-related rise in footfall and efforts to modernise its fashion collections, the company booked preliminary retail revenues of EUR104m (US$142m) during the quarter to 31 October, up from EUR85.2m the year before.
Like-for-like retail revenues were 3.1% higher than the previous year, and online sales surged 18.4%
The company attributed the rise in sales revenues to newly-opened company-managed retail stores as well as the established Houses of Gerry Weber - and said it out-performed the German fashion market as a whole.
It also said the trend continued in the first months of the new fiscal year, with like-for-like retail revenues in Germany rising by 3.5% in November and by 2.7% in December.
Back in September the company lowered its full-year outlook, blaming poor weather and the cost of opening new stores for a 10.2% decline in profit during the third quarter.
- Expensive US dollar hitting H&M sourcing costs
- Enthusiasm for tech in outdoor apparel on rise
- 2015: Welcome to the new fashion consumer
- Apparel industry gains traction says IAF chief
- Outlook 2015: What's happening with sourcing?
- Kanati pulls production out of Pakistan
- Gap to close Piperlime division
- EU exploring responsible garment supply chains
- Hanesbrands invests $1.5m in US hosiery plant
- US takes final step to WTO TFA implementation
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead