German fashion retailer Ludwig Beck posts Q2 FY21 sales of €13.5 mn

The German fashion retail group Ludwig Beck has reported increase in its gross sales to €13.5 million during second quarter (Q2) of FY21 ended on June 30, 2021, compared to the sales of €9.4 million in the corresponding quarter of prior fiscal. Earnings before interest and taxes (EBIT) improved to €2.5 million (Q2 FY20: loss €2.5 million).

 

The German fashion retail group Ludwig Beck has reported increase in its gross sales to €13.5 million in its second quarter (Q2) of FY21 ended on June 30, 2021, compared to the sales of €9.4 million in the corresponding quarter of prior fiscal. Earnings before interest and taxes (EBIT) improved to €2.5 million (Q2 FY20: loss €2.5 million).#

“The renewed severe restrictions in the first half of the year due to the Covid-19 pandemic had a significant impact on the sales development of the flagship store at Munich Marienplatz,” the company said in a press release.

 

The German fashion retail group Ludwig Beck has reported increase in its gross sales to €13.5 million in its second quarter (Q2) of FY21 ended on June 30, 2021, compared to the sales of €9.4 million in the corresponding quarter of prior fiscal. Earnings before interest and taxes (EBIT) improved to €2.5 million (Q2 FY20: loss €2.5 million).#

Gross profit for Q2 FY21 was €5.5 million (€3.2 million). Net income for the three-month period was €1.1 million (loss: €1.5 million). 

 

The German fashion retail group Ludwig Beck has reported increase in its gross sales to €13.5 million in its second quarter (Q2) of FY21 ended on June 30, 2021, compared to the sales of €9.4 million in the corresponding quarter of prior fiscal. Earnings before interest and taxes (EBIT) improved to €2.5 million (Q2 FY20: loss €2.5 million).#

Ludwig Beck posted a slight growth in its textile segment to €9.6 million (€5.5 million). However, non-textile segment’s sales remained flat at €3.9 million over the quarter.

 

The German fashion retail group Ludwig Beck has reported increase in its gross sales to €13.5 million in its second quarter (Q2) of FY21 ended on June 30, 2021, compared to the sales of €9.4 million in the corresponding quarter of prior fiscal. Earnings before interest and taxes (EBIT) improved to €2.5 million (Q2 FY20: loss €2.5 million).#

“Even though the Covid 19 pandemic has recently eased significantly and there are signs of optimistic consumer behaviour, we still have to be prepared for an uncertain infection situation and its consequences for the global economy, the German economy, the retail trade, and Ludwig Beck,” German fashion retailer added. “Additionally in 2021 one of the biggest challenges for Munich, but also for Ludwig Beck as a traditional costumes retailer, will be the renewed cancellation of the Oktoberfest and the resulting loss of sales.”