GERMANY: Jack Wolfskin records slight FY revenue decline
German outdoor wear brand Jack Wolfskin has recorded a slight decline in full year turnover to reach EUR351m (US$459m).
The company attributed the decline to difficult situations in its two largest markets, Germany and Austria. However, Asia, the UK, and Eastern Europe achieved continued high levels of growth.
Wholesale growth in clothing and equipment, which rose 5%, was not enough to entirely compensate for the 8% turnover decline in shoes.
"Due to the difficulties experienced on the European outdoor equipment market, we can say with surety that 2012 was a challenging financial year for Jack Wolfskin," said CEO Michael Rupp.
"Despite extremely unfavourable weather conditions, a lack of innovation and high stockpiles from the previous year, we managed to hold on to our position amongst the competition and achieve sound growth outside of our key markets."
The company said it has raised its innovation quota for the coming summer and winter seasons to new highs and has considerably increased its investment in R&D.
It will also accelerate growth internationally. "We currently see great potential in Asia, Great Britain and Eastern Europe in particular. These are the places where we will step up our level of activity and investment," said Rupp.
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