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Gerry Weber Quarterly Net Rises on Brand-Named Apparel Sales
By Joseph Mapother
June 25 (Bloomberg) — Gerry Weber International AG, Germany's third-largest maker of women's clothing, said second- quarter profit increased 47 percent, helped by brand-named apparel sales.
Net income advanced to 10.3 million euros ($16 million) in the three months ended April 30 from 7 million euros a year earlier, the Halle-based company said today on its Web site. Sales increased 13 percent to 146.7 million euros.
Gerry Weber confirmed its full-year forecasts, saying sales will be as much as 580 million euros, or an increase of 14 percent from a year earlier. Earnings before interest and taxes will reach 11 percent of revenue, the company said.
Gerry Weber expanded its Houses of Gerry Weber stores by adding 40 shops in the past six months, of which 11 are owned by the company. The number of Gerry Weber displays in other department stores rose by 84 to 1,282. The company plans to add an additional 300 in the current fiscal year.
Sales of the Gerry Weber's branded clothing rose more than 17 percent in the first half to 173.3 million euros.
Gerry Weber fell 5 cents, or 0.2 percent, to 21.30 euros in Frankfurt trading at 10:09 a.m., giving the company a market value of 489 million euros.
To contact the reporter on this story: Joseph Mapother in Frankfurt at jmapother1@bloomberg.net.
Last Updated: June 25, 2008 04:10 EDT

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