Gerry Weber Q2 sales revenues grow by 12.8%

Recording a steady growth, Gerry Weber which has reported

a 7.6 per cent increase in sales revenues in the first quarter of the financial year 2011/12, boosted its revenues by 12.8 per cent in the second quarter compared to the previous year. Gerry Weber's sales revenues increased to EUR 211million in the second quarter of 2011/2012, compared to EUR 187 million in the prior year quarter.

Group sales revenues for the first half of the current financial year totaled EUR 376 million representing a year-on-year increase of 10.5 per cent. At EUR 131.8 million (H1 2010/11: EUR 100.7 million), the Retail segment accounted for 35 per cent of total Group revenues, up from 29.6 per cent in the first half of the previous year. Wholesale revenues also showed a positive trend and climbed from EUR 236.4 million to EUR 238.9 million in the first half of 2011/12. The EBIT margin jumped from 13.4 per cent to 13.9 per cent in the second quarter of FY 2011/12 compared to the same period last year. EBIT totaled EUR 29.3 million. Company’s EBIT for the first six months of 2011/12 amounted to EUR 47 million, with the EBIT margin reaching 12.5 per cent from 11.9 per cent last year. Net income for the first half of 2011/12 were reported as EUR 31.6 million after taxes increased by 24.1. Accordingly, earnings per share rose from EUR 0.57 to EUR 0.69.

Based in Germany, Gerry Weber International is a company in the fashion industry focusing on ladies wear. The company opened 43 stores managed by itself in the first six months of 2011/12, thereof 20 outside Germany. Another 25 new Houses of Gerry Weber were opened by franchisees. Throughout the world, Gerry Weber has its presence in over 560 Houses of Gerry Weber and almost 2,500 shop-in-shops excluding the yet-to-be-converted former Wissmach stores. The company projects group revenues of EUR 795 million and an EBIT margin of 14.5 per cent to 14.6 per cent for the current financial year.