Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG

Earnings Release • Jan 10, 2003

News Details

Corporate | 10 January 2003 11:49

Ludwig Beck am Rathauseck english

Ludwig Beck: Leading to a 3 % drop in turnover 2002 Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Economic slump and sustained consumer buying restraint affect LUDWIG BECK as well, leading to a 3% drop in turnover in 2002 Munich, 10 January 2003. LUDWIG BECK AG, Munich, (WKN 519 990), achieved a gross consolidated turnover of EUR 95.1 million in fiscal year 2002 as opposed to the 2001 figure of EUR 98 million, a drop of 3 per cent. From the German retail trade’s point of view, 2002 was marked by an unprecedented degree of consumer buying restraint, and even the traditionally healthy Christmas season business was unable to reverse this trend that had manifested itself throughout the year. Indeed, the sector registered its worst result in the post-war period and, according to the German “TextilWirtschaft” trade journal, textile retailers saw sales drop by no less than 7 per cent. The consolidated turnover includes the figures achieved by Ludwig Beck Vertriebs GmbH with EUR 4.6 million (2002: EUR 0.0) and ludwigbeck-online GmbH (which closed down on 30 September 2002) with EUR 0.262 million (2001: EUR 0.417 million). Additional turnover losses were incurred as result of temporary closures of sales areas (cosmetics and lingerie) at LUDWIG BECK’s flagship store at the Marienplatz location in Munich due to renovation and extension activities. In all, 5% of the store’s total retail space were closed for around three months. In contrast, business in the 4th quarter was highly pleasing, and sales of EUR 31.4 million (2001: EUR 30.8 million) made for a turnover increase of just under 2%. Outstanding results were achieved by the new, trendy “Hautnah” wellness department featuring an extensive range of bodycare and decorative cosmetic products, as well as fragrances and the innovative spa zone; sales there in the 4th quarter alone reached EUR 2.3 million (2001: EUR 1.6 million), an increase of 36 %. The complete set of figures for fiscal year 2002 will be published on 8 April 2003. Contact: Lothar Fiss, Press and Investor Relations Tel. +49(0)89 23691-663, Fax +49(0)89 23691-600 end of message, (c)DGAP 10.01.2003 ——————————————————————————– WKN: 519990; ISIN: DE0005199905; Index: SDax Listed: Amtlicher Markt in Frankfurt (SMAX) und München; Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 101149 Jän 03