Gerry Weber confirms inte rnational growth strategy
Though sales stayed almost unchanged, profitability increased for German lifestyle and fashion retailer Gerry Weber in the 2013/14 financial year, the company stated.
Gerry Weber has confirmed the preliminary figures for its 2013/14 financial year published at the end of January 2015. The company's sales were more or less the same at €852.1m (£619.3m) with the retail segment's sales revenue increasing by 11.3% to €404.9m, despite difficult trading conditions.
Gerry Weber expanded internationally in the period, opening 49 sales spaces outside Germany. The EBITDA rose from €127.5m to €134.2m and net income after taxes rose marginally to €71.4m from €71m.
The company will now focus on international expansion, mainly in neighbouring European markets and North America, with the first eight Houses of Gerry Weber in Canada to open before the end of the year.
Gerry Weber now projects consolidated sales revenues of between €970m and €1,000m for the 2014/15 financial year.
€1 = $1.12/£0.73
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