German fashion retailer Ludwig Beck reports sluggish sales in Q3

Fashion

22 Oct `21

2 min read

The German fashion retail group Ludwig Beck has posted a slight decline in its gross sales to €40.0 million during the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €41.0 million in the corresponding quarter of prior fiscal. However, operating loss (EBIT) for the nine-month period narrowed down from €5.0 million in Q3 FY20 to €0.4 million in the reported period.

The German fashion retail group Ludwig Beck has posted a slight decline in its gross sales to €40.0 million during the third quarter (Q3) of FY21 compared to the sales of €41.0 million in the corresponding quarter of prior fiscal. The operating loss (EBIT) for the period narrowed down from €5.0 million in Q3 FY20 to €0.4 million in the reported period.#

“The third quarter of 2021 continued to be dominated by the COVID-19 pandemic. For the summer of 2021, the Ifo Institute expected a significant economic recovery but has now corrected the forecast growth downwards by 0.8 per cent after nine months. This is due to supply bottlenecks caused by the COVID-19 pandemic which continue to persist,” the company stated.

The German fashion retail group Ludwig Beck has posted a slight decline in its gross sales to €40.0 million during the third quarter (Q3) of FY21 compared to the sales of €41.0 million in the corresponding quarter of prior fiscal. The operating loss (EBIT) for the period narrowed down from €5.0 million in Q3 FY20 to €0.4 million in the reported period.#

Gross profit for the quarter increased to €15.2 million (€14.8 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) expanded to €4.5 million (loss: €0.4 million).

Favourite Print this story Comments Submit Press Release