Ahler's AG posts FY20 sales of €51 million

08 Apr '20

2 min read

Pic: Ahler's AG

Ahler’s AG, a Germany-based manufacturer of men’s fashion, posted 13.1 per cent decrease in its revenue to €51.2 million in first quarter (Q1) fiscal 2020 ended on February 29, 2020 compared to revenue of €59.0 million in same period prior year. This performance was reportedly due to discontinued activities and postponed jeans deliveries.

“Since mid-March at the latest, the global economy has been turned upside down. Due to the corona pandemic, clothing retailers throughout Europe have been ordered to close their stores. We therefore expect major burdens that will reduce sales revenues and earnings in the current fiscal year. A reliable forecast for the full fiscal year 2019/20 is not possible at this time,” Dr Stella Ahlers, CEO of Ahlers AG, said in a press release.

Group reported that its revenues were significantly influenced by discontinued activities and postponed jeans deliveries. The discontinuation of sales of Pierre Cardin and Pioneer ladies’ trousers as well as Jupiter jackets resulted to 5.4 per cent decrease in sales revenues to €3.2 million.

Gross profit for the quarter dropped 14.9 per cent to €26.3 million compared to €30.9 million in same period prior year.

Total revenues of the three premium brands Baldessarini, Pierre Cardin and Otto Kern dropped from €42.4 million in Q1 FY19 to EUR 38.5 million in the reported quarter. The discontinuation of Pierre Cardin Woman and the postponement of jeans deliveries were reported to be the main reasons for the 9.2 per cent decline in revenues in the premium segment.

Company reported that in the first three months of the fiscal year 2019/20, sales revenues in the Jeans & Workwear segment were primarily influenced by the discontinuation of Jupiter jackets and Pioneer ladies’ trousers. Total revenues of the Pioneer Authentic Jeans and Pionier Workwear brands included in the segment declined 23.5 per cent to €12.7 million (FY19: €16.6 million).

Due to the coronavirus pandemic and the closure of clothing retail outlets across Europe, the management board of Ahler’s has withdrawn the forecast for the fiscal year 2019/20 published in the 2018/19 annual report.

Fibre2Fashion News Desk (JL)

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