Ludwig Beck, a German-based apparel and accessories retailer has reported gross sales of € 24.8 million in the H1 of the fiscal year 2020 as compared to the gross sales of € 41 million in the previous year.
With the decline in sales, the company’s gross profit for H1 FY20 was €9.1 million (H1 FY19: €16.4million). Other operating income was €1.5 million (€1.6 million). Earnings before taxes for the period were loss-making to €5.2 million (€0.5 million).
Revenues for the textile segment during the H1 FY20 were €16.0 million. While the non-textile segment reported revenues of €8.8 million.
In its outlook, Ludwig Beck stated that the situation in the retail sector is slowly returning to normal, and the management expects gross sales from the sale of goods of between €63.0 million and € 70.0 million in the fiscal year 2020.
