Gerry Weber Group said it expects sales to fall by between 2% and 4% this year compared with 2016, as a result of the “continued difficult market environment” and store closures.
The German fashion reported that sales fell by 2.2% to €900.8m (£763.4m) for 2015/16 year on year, while EBITDA plunged by 33.3% to €77.3m (£65.5m) on the previous year.
The retailer embarked on its Fit4Growth transformation programme last year and said it expected to return to growth in the third year, 2018.
The group, which owns womenswear brands Gerry Weber, Taifun, Hallhuber and Samoon, said it closed 75 of the planned 103 stores across its portfolio last year, with the remaining set to close by the middle of this year.
It redesigned product presentation on the Gerry Weber online shop to reflect the individual brands at the end of last year and will relaunch the Gerry Weber online store this spring. Hallhuber is set to follow in autumn.