BERLIN (dpa-AFX) - Fashion retailer Gerry Weber International AG (GRYIF.PK) reported Thursday that its fiscal 2017 net result was negative 2 million euros or 0.04 euro per share, compared to last year's profit of 1.2 million euros or 0.03 euro.
Earnings before interest and taxes or EBIT was negative 3.5 million euros, compared to profit of 4.1 million euros a year ago, due to lower revenues of the GERRY WEBER Core Retail segment and the shift in Wholesale revenues to the second quarter of the current fiscal year 2017/18.
Consolidated sales revenues amounted to 189.8 million euros in the first quarter, down 9.3 percent from 209.2 million euros a year ago.
HALLHUBER recorded a 17.8% growth in revenues, while sales revenues of the GERRY WEBER Core segment declined.
Looking ahead, the company confirmed its forecast for the fiscal year 2017/18.
The company continues to expect stable consolidated sales revenues of between 870 million euros and 890 million euros, and EBIT between 10.0 million euros and 20.0 million euros for the current fiscal year.
Copyright RTT News/dpa-AFX