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Gerry Weber reports record year but UK still challenging

Gerry Weber said it expects to announce a record year in both revenue and profit when it releases its full-year report for the 2008/9 financial year on February 25.

The German mainstream womenswear brand said preliminary figures showed that sales were up 4.2% to 504.1m (£438.7m) for the 12 months to October 31, 2009.

Pre-tax profit is expected to rise 13.6% to 71.2m (£61.9m), largely as the result of a strategic focus by the company on increasing margin over revenue.

Gerry Weber said its growth was predominantly driven by its retail stores, of which it has 334 worldwide. The company now plans to open a further 70 to 80 stores in 2010, of which 45 will be outside Germany. It is unclear whether any stores will open in the UK.

In wholesale, Gerry Weber plans to expand internationally, particularly through further shop-in-shops, but said the UK continued to be a difficult market for the brand and it did not expect to see improvement in the UK this year.

Gerry Weber said it expects group sales to rise to between 615m (£535m) and 620m (£539.4m) for the 2009/10 financial year.

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