In the first six months of 2021, Gerry Weber International’s total net sales amounted to 107.7 million euros compared to 140.5 million euros in H1 2020, approximately 23.4 percent below the level of the prior year period. Online net sales increased 37.8 percent to 20.8 millions euros in the same period.
“While the first quarter was made difficult by the pandemic, our stores gradually reopened in full in the course of the second quarter. Florian Frank, Gerry Weber International AG’s chief financial officer, stated that the revenue trend in June was very encouraging and showed that our strategic initiatives were being accepted by market.”
Review of Gerry Weber’s first half performance The Gerry Weber Group, which includes e-commerce share and its wholesale partners, generated net sales of 46.8 millions euros compared with 66 million euros last.
The company added that gross profit deteriorated by 18 percent in the first six months and amounted to 67.3 million euros, while gross profit margin improved by 4.4 percentage points to 62.5 percent. Normalised EBITDA improved to negative 10.2million euros, compared to the previous year’s figure negative 22.9million euros. The normalized EBITDA margin was negative 9.5 percent, compared to negative 16.3 percentage. The result for the period was negative 24.2 millions euros, compared with negative 34.2 million euro.
Even though all stores have been open again since June 2021, the company expects opening rules to be tightened again if incidence rates pick up, which is generally expected to happen in autumn/winter. The company’s managing board projects consolidated net sales between 260 million and 280 millions euros for the fiscal year 2021. They also intend to improve the company’s profitability. Normalised consolidated EBITDA will be negative, low-double-digit million.