Gerry Weber Q3 sales jump by 21.9 percent

The third quarter sales revenues of Gerry Weber International

AG increased by 21.9 percent on the previous year. Sales revenues for the first nine months of the current financial year were up by 13.9 percent on the same period of the previous year. The contribution made by the Retail segment to total group sales during the nine-month period increased from 32.1 percent to 38.6 percent.

Wissmach merchandise’s contribution to the sales revenue amounted to 14.0 million euros (18.33 million dollars) to the Retail segment counting from 15 March 2012. Wholesale revenues climbed from 325.5 million euros (426.27 million dollars) to 332.6 million euros (435.57 million dollars).

The third-quarter EBIT margin was down by a moderate 20 basis points on the previous year to 11.0 percent. In absolute figures, EBIT increased by a strong 20.2 percent to 19.7 million euros (25.80 million dollars). For the same period last year it was 16.4 million euros (21.38 million dollars). First nine months of the financial year 2011-12 saw EBIT margin climbing from 12.0 percent from 11.7 percent and the Group’s net income totaling to 44.5 million euros (58.28 million dollars) - an increase of 23.5 percent on the previous year.

Net income for the third quarter amounted to 12.8 million euros (16.76 million dollars) after taxes, which translates into earnings per share of 0.28 euros (0.37 US dollars) for Q3 2011/12. Accordingly, earnings per share climbed from 0.78 euro (1.02 dollars) to 0.97 euro (1.2703 dollars) at the ninth month of the current financial year.

In view of the good business performance that saw 554.4 million euros (722.72 million dollars) of sales revenues and EBIT of 66.7 million euros (87.35 million dollars), the company slightly increased their given sales target for the fiscal year 2011/12 from 795 million euros (1041.13 million dollars) to 800 million euros (1047.68 million dollars).