Mainstream womenswear brand Gerry Weber has reported a 13% increase in sales revenues for its 2010/2011 full-year.
The German-based brand said that revenues rose to €702.7m (£593.3m) for the full-year while net income after taxes also rose sharply, up from €54m (£45.6m) the previous year to €67m (£56.6m) for the 2010/2011 period.
EBITDA increased at an even higher rate than revenues up by 19.6% to €99.6m (£84m) which the brand said was primarily due to the expansion of its own retail operation.
As a result of the sales increases, the brand has increased its share dividend by 18.2% to €0.65 (£0.54) per share.
Earlier this month, Gerry Weber announced the takeover of roughly 200 stores of the bankrupt Wissmach Modefilialen chain in Germany. Most of these stores are to be converted into mono-label stores of Gerry Weber’s Taifun and Samoon brands.
“We expect the converted stores to make a contribution of between €45m (£37.9m) and €50m (£42.2m) to sales revenues as well as a positive contribution to earnings already in the next financial year 2012/2013,” said chief executive Gerhard Weber.