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.
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