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Adler Modemarkte reports Q2 FY20 revenue of €65 mn
11 Aug 20 1 min read
Adler Modemarkte, a textile retail chain in Germany, has reported 52.5 per cent revenue decline to €64.9 million in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to revenue of €136.7 million in same period previous year. Company’s operating expenses for the quarter were down 14.2 per cent to €24.3 million (Q2 FY19: €28.3 million).
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EBITDA during Q2 FY20 reported a loss of €6.9 million compared to earnings of €27.4 million in same period previous year. Net loss from operations were €28.4 million compared to net income of €11.9 million in Q2 FY19.
According to company’s press release, as its stores began to open in the end of April, customers remained wary due to the restrictions associated with the pandemic, and there revenue significantly declined in the months of May and June.
Fibre2Fashion News Desk (JL)
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