Gerry Weber posts almost 22% sales growth in Q2 FY'12

At EUR 178.4 million, sales revenues of Gerry Weber International AG in the third quarter of 2011/12 were up by 21.9% on the previous year, having climbed 7.6% in Q1 and 12.8% in Q2. This is primarily attributable to the converted WISSMACH stores and the newly opened Houses of Gerry Weber. As previously announced, 69 of the WISSMACH stores acquired as of 15 March 2012 were converted - primarily into TAIFUN and SAMOON mono-label stores - between May and July.

Group sales revenues for the first nine months of the financial year (1 November 2011 - 31 July 2012) totalled EUR 554.4 million. This represents a 13.9% increase on the previous year.

With 56 new company-managed Houses of Gerry Weber opened, half of them outside Germany, and 69 former WISSMACH stores converted, mostly into TAIFUN and SAMOON mono-label stores, the Retail segment's contribution to total Group sales increased to 38.6% at the nine-month stage. At the end of the financial year 2010/11, Retail revenues had accounted for 31.0% of total Group sales.

Wholesale revenues rose from EUR 325.5 million to EUR 332.6 million, which represented 60.0% of total Group sales revenues. Since the end of the financial year 2010/11, 33 franchised Houses of Gerry Weber have been opened, thereof 25 outside Germany. Franchisees opened stores in countries such as Russia, Belgium and the Netherlands but also in Australia, Canada and the Middle East.

In spite of the start-up and conversion costs incurred in conjunction with the WISSMACH stores acquired with effect from 15 March 2012, earnings before interest and taxes (EBIT) were up by 20.2% on Q3 2010/11 to EUR 19.7 million in Q3 2011/12. In the first nine months of 2011/12, the Gerry Weber Group generated earnings before interest and taxes (EBIT) of EUR 66.7 million, which represents an increase by 17.0%. At 12.0%, the EBIT margin for the first nine months was up by 30 basis points on the previous year's 11.7%.

Taking into account the slightly lower financial result of EUR -1.4 million as well as income taxes (EUR -20.8 million), net income after taxes increased to EUR 44.5 million (+21.9 %) at the nine-month stage 2011/12. Accordingly, earnings per share climbed from EUR 0.78 to EUR 0.97. The headcount increased from 2,927 on 31 July of the previous year to 4,283.

Gerry Weber International AG