Gerry Weber achieves predicted aims for the financial year 2016/17.
During the summary press conference, Gerry Weber International AG announced the numbers for the completed financial year 2016/17. Despite further closures, the group sales was only slightly reduced by 2.2% to EUR 880.9 mio. Thus, Gerry Weber reached its predicted sales and revenue aims for the financial year 2016/17.
The programme for restructuring FIT4GROWTH, which was announced in February 2016, was completed to the end of the financial year 2016/17. Nearly all aims for the financial year were achieved. Besides achieving the financial aims, these mainly include the optimisation of retail and the closures in connection thereto, the implemented cost reductions, and the strengthening of the customer relations to wholesale partners. The young brand talkabout as well as the introduced partnership models attain a high acceptance at customers. The implementation of the planned, future-oriented measures mainly concern the departments procurement, product development, and range design as well as the consequent pursuit of the modernisation measures for the brands.
Ralf Weber, CEO, says: "Due to our strong brands, the innovative and financial strength of the company as well as the flexibility to adapt to changed conditions, we will reposition Gerry Weber on a sustainably profitable growth course and implement all measures necessary for this. We will resolutely use the chances provided by the digitisation and the possibility to establish new innovative brands and will continue Gerry Weber's success story of forty years."