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Gerry Weber returns to profit

Womenswear brand Gerry Weber has seen its full year EBITDA come in ahead of expectations at £28.8 million compared to a loss of €39.7 million in… View Article

FASHION

Gerry Weber returns to profit

Womenswear brand Gerry Weber has seen its full year EBITDA come in ahead of expectations at £28.8 million compared to a loss of €39.7 million in the previous year.

However, consolidated sales fell by 5.5% to €262.7 million which was within the lower end of the range predicted for 2021. At €123.3 million, retail sales remained slightly below the prior 12-month period.

The company attributed the sales decline to the temporary closures of stores during Covid-19 lockdowns, as well as weaker consumer confidence, declining footfall and disruptions in the global supply chain.

Commenting on the results, Angelika Schindler-Obenhaus, chief executive of Gerry Weber, said the company was making good progress with its transformation.

She explained: “On the way to tapping our newly defined, extended target group of the “Generation Wow” or baby boomers, we are seeing first successes. The much more modern style of our collection is increasingly attracting women over 50 and sometimes even their daughters to our stores, and our wholesale partners are also feeling this effect.”

Giving an update on trading in the first quarter of its new financial year, Gerry Weber said consolidated sales rose to €72.9 million from a previous €45.5 million. This was broken down equally between the retail and wholesale segments.

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