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Clothing & Shoes

Gerry Weber sees H1 sales fall 23.4% to £91m

Gross profits at the group also declined 18% to 67.3m for the six month period, compared to H1 FY20’s €81.6m (£69.1m)

Women’s fashion brand Gerry Weber saw group sales fall 23.4% year-on-year to €107.7m (£91.2m) in H1 FY21.

Gross profits at the group also declined 18% to 67.3m for the six month period, compared to H1 FY20’s €81.6m (£69.1m).

However, due to lower costs in the period, the fashion retailer reduced its normalised EBITDA losses from €34.2m (£29m) in H1 FY20 to €24.2m (£20.5m) this year.

Operating cash flow at Gerry Weber also increased to €21m (£17.8m), up from €3m (£2.54m) in the same period of FY21.

Florian Frank, CFO at the company, said: “While the first quarter was made difficult by the pandemic, our stores gradually reopened in full in the course of the second quarter. 

“The revenue trend in June was very positive and shows that our strategic initiatives are being accepted by the market.”

He added that with the increased EBITDA and free cash flow, the group’s earnings are “pointing in the right direction”.

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