DGAP-News: Gerry Weber International AG / Key word(s): Quarter Results
Gerry Weber International AG benefits from new store openings and
generates sales revenues of EUR 184.9 million in Q1 2012/13
15.03.2013 / 07:37
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Corporate News
GERRY WEBER benefits from new store openings and generates sales revenues
of EUR 184.9 million in Q1 2012/13
- Sales revenues in Q1 2012/13 up 12.0% on previous year to EUR 184.9
million
- Retail revenues climb 36.1% in first three months of current fiscal
year to EUR 85.6 million
- In spite of one-time expenses for the Retail expansion, earnings before
interest and taxes (EBIT) remain almost unchanged at EUR 17.8 million
(Q1 2011/12: EUR 17.7 million)
(Halle/Westphalia, 15 March 2013) In spite of the difficult market
conditions prevailing in the first three months of 2012/13 (1 November 2012
- 31 January 2013), GERRY WEBER International AG boosted its Group sales
revenues from EUR 165.1 million in the same period of the previous year to
EUR 184.9 million. The 12.0% increase is primarily attributable to the
expansion of the Retail segment and the new Houses of GERRY WEBER and
mono-label stores opened in this context.
Based on the national and international expansion of the retail spaces, the
Retail segment increased its first-quarter sales by 36.1% from EUR 62.9
million to EUR 85.6 million. Against the background of the weak market
environment, which was characterised by reduced consumer spending, and the
weather-related decline in customer frequency, like-for-like sales were
down by 3.4% on the previous year. A look at the sales trend in the German
fashion market shows that the market as a whole reported much higher
declines. An independent German trade magazine for the fashion business
determined a negative sales trend for November and December 2012 as well as
January 2013 between -5% and -9% compared to the respective prior year
months.
The Wholesale segment generated sales revenues of EUR 99.3 million, down
2.8% on the first quarter of the previous year. This decline is not only
attributable to the weaker market environment but also to a change in
segment reporting and the related adjustment of the prior year figures.
Also, the Wholesale revenues for the first three months of the previous
year still included the revenues generated by the acquired Dutch Franchise
stores. After GERRY WEBER International AG acquired a majority stake in
these retail spaces, they now form part of the Retail segment.
At EUR 17.8 million, earnings before interest and taxes (EBIT) in the first
quarter of 2012/13 remained almost unchanged from the previous year's EUR
17.7 million. The first three months of the fiscal year 2012/13 were still
adversely affected by the effects of the above-average expansion of the
Retail segment and the weak market environment. Newly opened retail spaces
initially generate a lower sales level than an existing store. This means
that the profit contribution of the newly opened retail spaces is initially
lower than that of an established store. In the past fiscal year 2011/12,
some 230 Houses of GERRY WEBER and mono-label stores were created as a
result of acquisitions and individual store openings as well as 25 formerly
franchised Houses of GERRY WEBER were taken over. In the first quarter
2012/13 as scheduled further 20 openings have taken place. Due to the
increased revenue contribution made by the Retail segment, the start of
winter sales in January 2013 also had a stronger impact on the operating
margin than in the previous years. Accordingly, the EBIT margin declined
from 10.7% from the prior year quarter to 9.6%.
At EUR 11.5 million, net income for the period after deduction of the
financial result and income taxes was on a par with the previous year. As a
result, earnings per share remained constant at EUR 0.25 in Q1 2012/13.
Barring an unforeseen deterioration in the economic environment in our key
output markets, we once again confirm the guidance for the current fiscal
year 2012/13. The company has set itself a consolidated sales target of
between EUR 890 million and EUR 900 million. This would again represent a
double-digit increase on the previous year. In spite of the challenging
market environment, we expect to grow profitably and stick to our EBIT
target of EUR 131 million to EUR 135 million for the fiscal year 2012/13.
Both the Retail segment and the Wholesale segment are clearly poised for
growth in the coming months. The five GERRY WEBER brands hold an excellent
position in its market segment. Therefore we see sufficient growth
opportunities especially outside Germany. With an equity ratio of 80.1% we
are well prepared to seize these opportunities.
Key figures of the GERRY WEBER Group:
<pre>
Q1 2012/13 Q1 2011/12 Change
in %
Sales revenues (in EUR millions) 184.9 165.1 12.0
EBIT (in EUR millions) 17.8 17.7 0.8
EBIT margin (in %) 9.6 % 10.7 % -1,1
Net income for the period (in EUR millions) 11.5 11.5 0.0
Earnings per share (in EUR) 0.25 0.25 0.0
Equity ratio (in %) 80.1 % 78.0 % 2.1
Employees (end of reporting period) 4,618 3,409 35.5
</pre>
Admitted to the Regulated Market of the Frankfurt Stock Exchange (Prime
Standard)
ISIN: DE0003304101
WKN: 330410
<pre>
Investor Relations Contact
GERRY WEBER International AG
Claudia Kellert
NeulehenstraÃe 8
D - 33790 Halle/Westphalia
phone: +49 (0) 52 01-185 8422
email: c.kellert@gerryweber.de
</pre>
End of Corporate News
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Language: English
Company: Gerry Weber International AG
NeulehenstraÃe 8
33790 Halle/Westfalen
Germany
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: c.kellert@gerryweber.de
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Indices: MDAX
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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203976 15.03.2013
DGAP-News: Gerry Weber International AG benefits from new store openings and generates sales revenues of EUR 184.9 million in Q1 2012/13
| Source: EQS Group AG