• Q3 net profit down 26% to EUR5.1m
  • Revenues fall 4.1% to EUR68.1m
  • Investment, delivery postponement blamed

German fashion group Ahlers blamed postponed deliveries and increased investment for a 26% slump in third quarter profit, with revenues also falling.

The company said deliveries of some pre-sold merchandise had been put off from the third to the fourth quarter, but highlighted revenue increases for its premium segment.

This, it said, now contributed 65% of total revenues, thanks to a double-digit increase at Baldessarini and growth from Pioneer Authentic Jeans.

Retail segment revenues were up 3.7% in the first nine months of the fiscal year, as the company opened new stores for Pierre Cardin and Baldessarini.

Meanwhile, e-commerce revenues were up 20% from a low base, driven by the opening of Pionier Workwear e-shops and the redesign of existing Baldessarini, Otto Kern and Gin Tonic sites.

Ahlers blamed the investment in its retail and online activities, as well as the revenue decline, for the company’s lower profits.