Gerry Weber’s figures for the first half of 2020 are shaped by the consequences of the COVID-19 pandemic. “To contain the pandemic, almost all GWI sales areas were closed from mid-March 2020 on official instructions. In the meantime, all shops will gradually open again from May 2020, ”said the fashion company from Halle in Westphalia on Friday.
In the first half of 2020, the company realized a total of 140.5 million euros after 247.7 million euros in the same period last year. The bottom line is that the company was able to reduce the loss from 144.1 million euros to 34.2 million euros. However, this is mainly due to lower depreciation and cost reductions. Before interest and taxes, Gerry Weber reports a decrease in the operating deficit from 122.9 million euros to 27.3 million euros.
“Since the publication of the annual report as of December 31, 2019, there have been no significant changes to the estimates regarding the forecast, since the expected effects of COVID-19 on Gerry Weber’s sales and earnings development had already been taken into account at that time,” said the Company to the outlook. A turnover of between EUR 260 million and EUR 280 million is still forecast. On an adjusted EBITDA basis, a loss in the mid double-digit million range is expected.
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