German womenswear business Gerry Weber has announced a 9% fall in revenues to €189.8m (£167.94m), for the first quarter of 2017/2018, as EBITDA dropped by 50%.
EBITDA for the group declined to €7.8m, as a result of shifting wholesale revenues.
Own-retail revenues for the core Gerry Weber brands – Gerry Weber, Taifun and Samoon – declined 19.1% to €80.6m (£71.32m), which it blamed on store closures and a change in its merchandise management system. Like-for-like sales also dropped for the core brands, down 8.8%. Online sales for the brands however increased by 8.8% to €6.8m (£6.02m).
The Hallhuber brand recorded positive growth, up 17.8% to €58.9m (£52.12) as the brand expanded its number of stockists, and like-for-like sales brand grew 5.5%.
Gerry Weber CEO Ralf Weber signalled that he hoped the brand would offset the negative start to the year in the second quarter: “The first quarter of 2017/18 was influenced by shifts in revenues in the Gerry Weber wholesale segment, which will be offset in the course of the next three months.”