Gerry Weber International, Germany-based fashion retailer and manufacturer, has announced its financial results for the first quarter of 2017. The fashion brand noticed a decrease of 2.1 per cent in its sales revenue to € 209.2 million, and reported flat net earnings in the said period.
Sales at core brands of the company: Gerry Weber, Taifun and Samoon registered fall of 2.4 per cent. Gerry Weber brand’s core wholesale segment however booked sale of 11.1 per cent and considerable margin improvements were noticed at Hallhuber label. Besides, the fashion retailer indicated that due store closures last year, a 3.4 per cent plunge in like-for-like revenues was also noted.
Ralf Weber, CEO, Gerry Webber International underlined that the ‘Fit4Growth’ –realignment programme, which comprises four elements (Optimise the Retail operations; Adjust Structures and Processes; Strengthen the Wholesale Operations; and Modernise the Brands), was implemented as planned in the past fiscal year and will be continued with great determination in the coming year as well.The strategy is helping to modernize the core brands and is boosting the cost structure of the company.
For the current fiscal year, theGerry Weber International is expecting sales revenues to be 2-4 per centdown from last year (Euros 900.8 million).