Gerry Weber sales revenues up 2.2 percent in H1

REPORT_ In the first half of 2013/14, Gerry Weber International increased its sales revenues by 2.2 percent on the

previous year to 412.8 million euros (559.6 million dollars). Sales revenues of the retail segment climbed 13.3 percent, whereas the wholesale segment's revenues declined by 5.6 percent, compared to the same period, last fiscal year.

“With like-for-like retail revenues up by 5.2 percent on the first half of the previous year, we clearly outperformed the German fashion market as a whole,” opined Ralf Weber, Board member in charge of the retail segment of Halle/Westphalia-based Gerry Weber International.

The wholesale segment contributed 54.3 percent to total group revenues. Earnings in the first quarter of 2013/14 were influenced by the shift of the winter sale to January 2013. By contrast, the second quarter saw profitability improve notably. As a result, the gross margin increased from 50.7 percent in the previous quarter to 56 perent in the second quarter. The gross margin for the first six months of 2013/14 improved from 52.3 percent to 55 percent.

Earnings before interest and taxes (EBIT) in the second quarter of 2013/14 climbed to 31.3 million euros (42.4 million dollars), up from 25.6 million euros (34.7 million dollars) in the second quarter of the previous year. This represents an increase of 22.3 percent. The EBIT margin rose from 11.7 percent to 14.2 percent. Earnings before interest and taxes (EBIT), for the full first six months of the current fiscal year increased by 14.2 percent. Accordingly, the EBIT margin improved from 10.7 percent to 12 percent in the first half of 2013/14.

“Profitable growth is one of the primary objectives of our company. After last year's difficult weather conditions, the earnings figures for the first six months of 2013/14 show that we have returned to our past profitability and can even improve it further,” added Ralf Weber.