Gerry Weber cuts profit outlook, blames negative market

Gerry Weber International AG

09/06/2015 16:37

BERLIN, June 9 (Reuters) - German fashion group Gerry Weber 
 GWIG.DE  said it was no longer sure of meeting its targets for 
revenue and earnings for the 2014/15 financial year, blaming a 
shrinking market and saying it would cut costs to try to get 
back on track. 
    "Seasonally adverse weather conditions as well as low 
footfall in the cities and stationary stores also had a negative 
impact on sales as did consumer behaviour," Gerry Weber said in 
a statement. 
    The company said its earnings before interest and taxes 
(EBIT) for 2014/15 would be 20-25 percent lower than the 
previous year, but said it was confident that it would reach its 
long-term growth and earnings targets. 
 
 (Reporting by Emma Thomasson; Editing by Jonathan Gould) 
 ((+49 30 2888 5081; Reuters Messaging: 
emma.thomasson.thomsonreuters.com@reuters.net)) 
 
Keywords: GERRY WARNING/