Brief: Gerry Weber sees FY 2015/2016 EBT of EUR 10-20 mln, announces layoffs

Gerry Weber International AG

26/02/2016 06:25

Feb 26 (Reuters) - Gerry Weber International AG  GWIG.DE : 
 
    * Proposal to pay a dividend of 0.40 euros per share 
    * FY consolidated net income after taxes of eur 52.2 
million, down from eur 71.4 million in previous year 
    * projects consolidated sales revenues of between eur 890 
and 920 million for financial year 2015/16 
    * FY 2015/2016 earnings before interest and taxes will 
amount to between 10 and 20 million euros 
    * About 200 jobs at headquarter in halle/westphalia as well 
as approx. 50 jobs in foreign subsidiaries will have to be cut 
    * Extraordinary one-time expenses will have a strong adverse 
impact on earnings before interest and taxes (EBIT) in 2015/16 
    * Expects Gerry Weber Group to complete realignment 
programme in next 18 to 24 months and to enter a phase of 
sustainable profitable growth as of third year 
    * According to plans, 103 stores which fail to reach margin 
targets and/or have a negative growth outlook will be closed 
this FY and next 
    * Optimisation of structures and processes will cut 
operating and personnel expenses by 20 to 25 million euros per 
year 
    * 460 employees in domestic and international stores will be 
affected by consolidation of store network 
 
Source text for Eikon:  ID:nEQ6xHNwma  
Further company coverage:  GWIG.DE  
 
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