Brief: Gerry Weber To Implement New Performance Programme, Cuts 2017/18 Outlook

Gerry Weber International AG

13/06/2018 17:17

June 13 (Reuters) - Gerry Weber International AG  GWIG.DE :
    * DECIDES TO IMPLEMENT NEW PERFORMANCE PROGRAMME AND UPDATES
THE
FORECAST FOR 2017/18 TO REFLECT THE PROGRAM'S EFFECTS ON
REVENUES AND EARNINGS
    * SAYS THESE MEASURES WILL LEAD TO HIGHER-THAN-EXPECTED
EXTRAORDINARY CHARGES OF ROUGHLY EUR 15 MILLION
    * SAYS SALES REVENUES IN GERRY WEBER RETAIL SEGMENT WILL BE
SLIGHTLY LOWER THAN EXPECTED IN CURRENT FINANCIAL YEAR.
    * SAYS NOW PROJECTS 2017/18 REVENUES OF EUR 830 MILLION TO
EUR 840
MILLION (PREVIOUSLY EUR 870 MILLION TO EUR 890 MILLION
    * SAYS FORECASTS CONSOLIDATED EARNINGS BEFORE INTEREST AND
TAXES
(EBIT) OF EUR -10 MILLION TO EUR 0 (PREVIOUSLY EUR 10 MILLION TO
EUR 20 MILLION)
    * SAYS ANTICIPATES TO GENERATE ADDITIONAL POTENTIAL OF UP TO
EUR
35-40 MILLION P.A. FOR ITS OPERATING RESULT (EBIT) WITHIN NEXT
THREE TO FIVE YEARS

Source text for Eikon:  ID:nEQ68ktY3a 
Further company coverage:  GWIG.DE 

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