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Gerry Weber looks to exit half of UK stores

German mainstream womenswear brand Gerry Weber is looking to exit eight of its 16 UK stores, Drapers understands.

Property sources said the company is aiming to offload stores at Westfield London, Westfield Stratford, Oxford, Solihull, Dorchester, Bishop’s Stortford, Chichester and Dundrum town centre in Ireland. Gerry Weber declined to comment.

Last week, the brand’s owner, Halle-based Gerry Weber International, announced plans to “realign”  in the face of falling sales and margins.

It said EBITDA dropped to €115m (£88m) in the year to October 31 2015, down from €134.2m (£102.7m) the previous year. EBITDA margin also fell, down from 15.7% to 12.6%. There was no breakdown for the UK.

Chief executive Ralf Weber said the group’s performance was “unsatisfactory” and blamed a “challenging market environment for the fashion industry”. It will announce further details of its realignment programme on February 26.

The Gerry Weber group, which includes womenswear brands Taifun and Samoon, currently has 217 stockists in the UK and Ireland, as well as the 16 stores for the Gerry Weber brand and an outlet in Swindon.

It has two franchise stores operated by Northern Ireland-based Dixons. It also has 12 UK and Ireland concessions, including seven in House of Fraser.

 

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