Published
Jun 14, 2016
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Gerry Weber H1 revenue rises by 2.5%

Published
Jun 14, 2016

German group Gerry Weber increased revenue by 2.5% to €443.6 million in the first half of 2015/16, helped by Munich-based subsidiary Hallhuber, which contributed €91.7 million to the group’s consolidated revenue.


APA/dpa/ David Ebener


Gerry Weber’s core brands (Gerry Weber, Taifun and Samoon) delivered €352 million in revenue, down from €398.9 million last year.

The company acquired the fashion brand Hallhuber at the end of 2014, but it only fully consolidated the business in February 2015.

Retail sales for the group’s core brands were up by 2.5% reflecting the impact of store openings in the period, but like-for-like retail sales dropped 6.7%. This was attributed to the negative market trend as well as changes to the merchandise and inventory management systems.

The wholesale segment presented a 26.3% drop in revenue to €145.6 million as customers continued to behave cautiously, the company said. Additionally, Gerry Weber transformed wholesale spaces into company-managed retail stores, which also impacted the results negatively. 

EBITDA slumped from €52.5 million to €29.9 million due to the decline in high-margin Gerry Weber sales, continuing high fixed costs and expenses related to the inclusion of Hallhuber.

Ralf Weber, CEO of the group said the implementation of the realignment programme is progressing as planned. “The first 21 out of the total 103 closures have already been completed, the social compensation plan for the retail segment and for the administrative support functions in the head office has been signed and our gross margin has started to improve as a result of our optimised merchandise and inventory management system. Even so, we still have numerous tasks and a difficult path ahead of us during this and the next financial year. As we continue to push ahead the realignment, the progress achieved in the past months has strengthened our conviction that we will achieve our objectives."

The company expects to achieve sales between €890 million and €920 million in 2015/16.

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