Gerry Weber International AG (GRYIF.PK) said it estimates sales revenues of 702.7 million euros for the past fiscal year 2010/11. Despite extensive investments in the expansion of the company's own Retail segment, earnings before interest and taxes or EBIT grew 19.6% to 99.6 million euros from 83.3 million euros in the previous year.
The company noted that the retail segment once again was a key growth driver with its sales revenues improving by 25.1% to 217.2 million euros from 173.6 million euros. The sharp increase is attributable to both the opening of 64 company-managed Houses of GERRY WEBER and to a 7.7% rise in like-for-like sales.
GERRY WEBER's board expects sales revenues to surge to 775 million euros in the fiscal year 2011/12, which would again represent a double-digit percentage increase. Also, the company projects an improvement in the EBIT margin to 14.8% for the current fiscal year; and intends to open 75 - 85 new company-managed Houses of GERRY WEBER globally, about half of them outside Germany.
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