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Bijou Brigitte shop network grows in first quarter
09
May '09
Bijou Brigitte modische Accessoires AG, the Hamburg costume jewellery group, generated group sales totalling EUR 375.7 million in fiscal year 2008.

Thus there was a 2.4% increase over EUR 366.9 million of the previous year. Sales declined like-for-like by 4.9% during the reporting year. The shop network grew from 1,005 to 1,085.

In fiscal year 2008, the pre-tax earnings totalled EUR 117.4 million (prior year: EUR 121.9 million). Group after-tax profit was a record result in the history of Bijou Brigitte, an increase of 2.8% from EUR 80.3 million to EUR 82.6 million.

With EUR 10.29, earnings per share were 3.7% above the prior year's EUR 9.91.

On 15 July 2009 the management board and supervisory board will propose distribution of a dividend in the amount of EUR 6.50 per common share. The level of the previous two years would thus be maintained. The dividend would total EUR 52.7 million.

Quarterly figures as of 31 March 2009As already reported in the 23 April 2009 ad hoc notice, group sales rose in the first quarter of 2009 by 0.1% from EUR 76.0 million to EUR 76.1 million. That was a like-for-like decline in sales of 7.8%. Corresponding to the projection of group figures with estimated inventory value for the first three months, the Bijou Brigitte group pre-tax earnings totalled EUR 12.6 million.

This is a 29.5% decline compared to the prior year's EUR 17.9 million. Earnings after tax decreased by 28.0% from EUR 12.2 million to EUR 8.8 million.

There were numerous reasons for the decline. Since this was not a leap year, there was one less day in February. Moreover, Easter business only started in April 2009, i.e. in the second quarter.

Moreover, the consumption climate was negatively affected by the real estate and financial crisis in Spain, Portugal and France.

Eastern European countries like Poland, Hungary, and the Czech Republic suffered sharp declines in the exchange rates for their currencies. The result was a decline in first quarter figures.

Bijou Brigitte also continues the shop expansion throughout Europe in 2009. In the first quarter, the shop network grew from 1,085 shops to 1,093. A total of 80 shops are to be opened during the year. New expansion targets have been set. Among others, Romania, Bulgaria and the Baltic States are seen as markets of the future.

Bijou Brigitte modische Accessoires AG


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