German fashion group Gerry Weber is on track for "the most successful year in the company's history" it said yesterday (21 January), with both revenues and profit set to reach record levels.

The women's wear firm also said it expects growth to continue in its next financial year and that it also plans to step up its retail expansion.

According to preliminary figures, the group managed to shake off the international economic crisis to boost sales by 4.2% to EUR594.1m (US$840m), up from last year's EUR570.0m.

Pre-tax profit is expected to rise 13.6% to EUR71.2m for the year after the company focused on increasing margin over revenue.

Growth was primarily driven by its 334 retail stores, the firm said, of which 195 are operated by franchisees.

Looking ahead, Gerry Weber intends to be cautious in foreign markets in the belief that the economic situation in the UK, Spain, Greece and Eastern Europe will not improve this year.

That said, group sales are likely to rise to between EUR615m and EUR620m for the 2009/2010 financial year.
 
It also plans to open 70-80 new company-managed Houses Of Gerry Weber, of which 45 will be outside Germany.

In the wholesale segment, the number of shop-in-shops will rise by 180 to a total of 1983 in the course of the current financial year.

The Gerry Weber group releases its full-year report for the 2008/9 financial year on 25 February.