Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG

Earnings Release • Jan 9, 2004

News Details

Corporate | 9 January 2004 11:34

DGAP-News:Ludwig Beck: 2003 sales down by 2,1 %

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– LUDWIG BECK closes 2003 with sales down by 2.1%. Munich, 9 January 2004. LUDWIG BECK AG, Munich (DE 0005199905) closed fiscal 2003 with gross sales revenues of EUR 93.1 million, 2.1% down on the previous year’s figure of EUR 95.1 million. 2003 was the most difficult business year ever experienced by Germany’s retail trade. The crippling state of the economy, never-ending discussions on reform, and the continuingly high rate of unemployment led to an unprecedented degree of consumer reticence. Business during the Christmas season too fell seamlessly into line with the year’s trend. Particularly affected in 2003 by this state of affairs was the textile trade which, according to German trade journal “TextilWirtschaft”, saw sales drop by approx. 5%. Sales increased perceptibly during the closing days of 2003, beginning with the announcement of the German government’s tax reform. The opening days of 2004 too showed a trend that was identifiably better than in the same period last year. The greatest task facing the textile trade in the coming twelve months lies in normalizing pricing and cutting back on the exaggerated discounting which in any case is not producing any positive result. LUDWIG BECK anticipates an improved sales curve in 2004, and predictably positive news on the economic trend in Germany and the impact of the tax reform will lead to an increase in sales in the second half-year at the latest. The complete set of figures for fiscal 2003 will be published on 23 March 2004. Contact: Lothar Fiss (Press and Investor Relations) Tel. (089) 23691-663, Fax (089) 23691-600 end of message, (c)DGAP 09.01.2004 ——————————————————————————– WKN: 519990; ISIN: DE0005199905; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg und Stuttgart 091134 Jän 04