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Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Earnings Release • Jan 9, 2017
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Earnings Release
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Corporate | 9 January 2017 08:01
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK Group concludes 2016 fiscal year on a satisfactory note
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Development of Sales/Development of Sales
09.01.2017 / 08:01
The issuer is solely responsible for the content of this announcement.
Corporate News
LUDWIG BECK Group concludes 2016 fiscal year on a satisfactory note
Munich, January 9, 2017 – The Munich Fashion Group LUDWIG BECK (ISIN DE 0005199905) has concluded the 2016 fiscal year with an increase in sales over the previous year. The Group generated gross sales in the aggregate amount of EUR 177.1m, thus clearly exceeding the sales targets adjusted to EUR 174m last October. Seasonally appropriate weather conditions provided the basis for the success achieved in the traditionally strong-selling fourth quarter.
Sales in the previous year had amounted to EUR 158.6m. The increase in 2016 was due to the fact that the WORMLAND segment newly acquired in May 2015 contributed to Group sales on a full-year basis for the first time in 2016.
The share contributed by WORMLAND was EUR 76.0m (previous year: EUR 54.7m).
On a like-for-like basis, the LUDWIG BECK segment stood its ground in the face of highly challenging conditions and attained sales in the amount of EUR 101.1m (previous year: EUR 104.0m). The decline in sales was in line with the general development of the brick-and-mortar fashion trade which recorded a 2% loss in the reporting year 2016 (source: TextilWirtschaft).
“In our view, business performance in the fourth quarter surpassed expectations and put us in the position to conclude the 2016 overall year with conciliatory results”, Dieter Münch, member of the Executive Board of LUDWIG BECK AG said.
The detailed figures for 2016 as well as the expectations for the new fiscal year 2017 will be disclosed at the balance sheet press conference in Munich on March 28, 2017. For more information on all aspects of the company and its share please refer to the corporate website at http://kaufhaus.ludwigbeck.de/english/ .
Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 206021-210
f: +49 89 206021-610
Group accounting contact:
LUDWIG BECK AG
Jens Schott
t: +49 89 23691-798
f: +49 89 23691-600
09.01.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG |
| Marienplatz 11 | |
| 80331 München | |
| Germany | |
| Phone: | +49 (0)89 2 36 91-0 |
| Fax: | +49 (0)89 2 36 91-600 |
| E-mail: | [email protected] |
| Internet: | www.ludwigbeck.de |
| ISIN: | DE0005199905 |
| WKN: | 519990 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |