Adler Modemarkte, a textile retail chain in Germany, has reported 32.4 per cent revenue decline to €238.9 million in its third quarter (Q3) YoY FY20 ended on September 30, 2020 compared to revenue of €353.6 million in same period previous year. Company incurred a loss from operations during the nine months period of €70.7 million (Q3 FY19: €13.3 million).
EBITDA during Q3 FY20 reported a loss of €19.2 million compared to earnings of €33.3 million in same period previous year.
The cost of materials fell to €126.9 million (€165.5 million). While, personnel expenses for nine months slipped to €59.1 million (€74.5 million) primarily due to implementation of short-time working hours.
“Since the end of October, Adler has again been faced with severe disruptions due to the tougher restrictions imposed in Germany, Austria, Luxembourg and Switzerland in response to the pandemic,” Adler Modemarkte stated in its report.
