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Ludwig Beck reports gross sales of €25 mn in H1 FY20
23 Jul '20
1 min read
Pic: Shutterstock
The Munich Fashion Group Ludwig Beck generated gross sales of €24.8 million in the first half (H1) fiscal 2020 that ended on June 30, 2020 compared to gross sales of €41.0 million in same period last year. With officially ordered lockdown, company’s all stores in Bavaria were closed from March 18, 2020, except for shops selling consumer goods.
With the decline in sales, company’s gross profit for H1 FY20 were €9.1 million (H1 FY19: €16.4million). Other operating income were €1.5 million (€1.6 million). Earnings before taxes for the period were loss making to €5.2 million (€0.5 million).
Revenues for the textile segment during the H1 FY20 were €16.0 million. While non-textile segment reported revenues of €8.8 million.
In its outlook, Ludwig Beck stated that the situation in the retail sector is slowly returning to normal, and the management expects gross sales from the sale of goods of between €63.0 million and € 70.0 million in the fiscal year 2020.
Fibre2Fashion News Desk (JL)
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