German fashion company Gerry Weber saw its turnover grow 6.2 % to 852 million euro in its last fiscal year, thanks to 68 new stores. Gross profit dropped though, from 115.9 to 105.8 million euro.
Focus on own stores
The chain has not only opened new stores (mainly in Germany, Spain and the Netherlands), but it has also taken 19 Belgian franchise stores into its own hands. That strategy pays off, as Gerry Weber has doubled turnover in its own stores in the past five years, from 143.8 million euro in 2008/9 to 299.5 million euro in 2011/2012.
The company now gets 42.7 % of its turnover out of their own stores, with more than 50 % as the goal for next year. Wholesale turnover has not been growing that strongly the past few years. It went from 444.4 million euro in 2008/2009 to 502.8 million euro in 2011/2012.
Gerry Weber has good hopes for the current fiscal which started on 1 November, after good results in November and December meant the fiscal year went off to a good start. The chain aims to get a 900 million euro turnover, a 5 % increase, and a gross profit of 120 million euro, while it also aims to open between 65 and 75 stores, both in Germany and abroad.