Gerry Weber Group turnover increased 2.5% to €443.6m (£352.8m) for the first six months to April 30, as its turnaround strategy took effect.
The company closed 21 stores out of a total of 103 expected closures during the period.
Retail sales for the core group (Gerry Weber, Taifun and Samoon) were up 2.5% to €206.4m (£164.2m) as a result of the opening of new space, as like-for-like sales fell by 6.7% on the previous year.
Wholesale for the group’s core brands fell 26.3% to €145.6m (£115.9m) compared with the previous year, as customers were “cautious” in their pre-order behaviour, and wholesale spaces were reclassified as company-managed retail spaces.
However, the gross margin for both Gerry Weber core retail and wholesale segments improved from 58.5% to 60.9%.
EBITDA slumped 43% to €29.9m (£23.8m).
Ralf Weber, chief executive of Gerry Weber, said: “The implementation of our ‘Fit4Growth’ realignment programme is progressing well and as planned.
“Even so, we still have numerous tasks and a difficult path ahead of us during this and the next financial year. As we continue to push ahead with the realignment, the progress achieved in the past months has strengthened our conviction that we will achieve our objectives.”