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Sales fall at Gerry Weber

Full-year group revenues at German womenswear brand Gerry Weber fell 2.2% to €880.9m (£775.6m), in line with expectations.

Preliminary group earnings before interest and taxes were €10.3m, at the lower end of the projected range of €10m (£8.8m) to €20m (£17.6m) for the year to 31 October.

Total sales at Gerry Weber’s core brands declined by 4.4% to €686.6m (£604.5m).

Retail sales were hit by the closure of 68 stores during the year, and like-for-like sales slipped by 1.9%. Wholesale sales fell by 1.5%, which was a smaller drop than had been expected.

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